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.
On 17 August 2006, Visteon, a US-american global automotive supplier, announced to sell two of its five production sites in Germany. In this context, the establishment wants to reduce half of its German staff. 850 employees will be reduced at its plant in Düren. Another 580 employees are concerned in Wülfrath. The establishment stated that the mentioned plants produce engines and steerings that would not match the new product line of the establishment, e.g. electronics, interior equipment and air-conditioning systems. At the moment, Visteon employs 2800 persons in all its production sites in Germany. However, neither employment figures for the single plants nor a timeline for the planned job reductions were released.
Eurofound (2006), Visteon, Internal restructuring in Germany, factsheet number 63931, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63931.