Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
At Schefenacker AG, a supplier of vehicle rear mirrors, the workers' council, labour unions and management agreed on a new collective bargaining agreement for Schefenacker's German operations. The new agreement defers planned pay increases, introduces a more flexible arrangement of payroll procedures and reorganises the payment of vacation and Christmas holiday allowances. The agreement prevents the closure of the German operations at least until 2010. 300 jobs will be cut in a 'socially responsible' way.
Eurofound (2005), Schefenacker AG, Internal restructuring in Germany, factsheet number 62089, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62089.