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.
Bayer, the German multi-national chemical group, has announced that it is to cut 400 to 500 jobs in Germany at its subsidiary Bayer Material Science. As of November 2007, it is unclear what units and locations the job cuts will affect. Bayer Material Sciences produces polymers and high-performance plastics. The job losses will be implemented by the end of 2009, and the firm has stated that it expects to save 300 million EUR through the cuts. Bayer Material Science employs approximately 7,000 in Germany.
Eurofound (2007), Bayer Material Science, Internal restructuring in Germany, factsheet number 66002, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66002.