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.
Freudenberg, a conglomerate producing for the textile and car industry, announced in October 2005 to cut about every fifth job of its 2,100-strong workforce. Following negotiations between management and works council the number of job cuts is now set at 280. Both parties agreed on a social plan including the transfer of workers to a so called training agency (Trainings- und Qualifizierungsgesellschaft). Cost-cutting-measures were motivated by margin-pressures from clients in the automotive sector and the shift of textile production to Asia. Production will be transferred to China and Eastern Europe.
Eurofound (2005), Freudenberg, Offshoring/Delocalisation in Germany, factsheet number 62445, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62445.