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 1 October the German car manufacturer Karmann announced to cut 1770 jobs out of 5000 in Germany. Some 870 jobs were to be cut at the main plant of Karmann in Osnabrück (Lower Saxony) and another 900 jobs at the production site in Rheine, Westphalia leaving only 100 jobs at this site. On 23 May 2008 Handelsblatt reported that up to that date 500 workers had lost there jobs and that additional job cuts are to be expected as Karmann lost an oder by Volkswagen. Karmann is a contract manufacturer for cars and parts for car manufacturers such as Volkswagen and Daimler-Chrysler.
As reported, Germany has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2007), Karmann, Internal restructuring in Germany, factsheet number 65881, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65881.