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.
The car manufacturer BMW has announced that it will cut a total of 8,100 jobs. The job cuts mainly affect the company’s plants in Germany. However, approximately 600 employees out of the 8,100 employees are to lose their jobs outside Germany. Affected are 5,000 temporary agency workers who will return to their temporary employment agencies by the end of 2008. Furthermore, permanent staff shall be reduced by 3,100 employees. However, BMW stated that it seeks to provide for a job reduction scheme on a voluntary basis. As of February 2008, 2,500 temporary agency workers had already left the company. First cancellation agreements were signed. The company stated that its restructuring scheme aims at increasing the productivity of its plants. BMW employs around 80,000 employees in Germany or a total of approximately 108,000 employees worldwide.
Eurofound (2008), BMW, Internal restructuring in Germany, factsheet number 66442, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66442.