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 10 July 2008, Heidelberger Druckmaschinen, a manufacturer of printing presses and printing materials, announced its new package of cost-cutting measures. The company intends to save 100 million euros within the next three years. Therefore, 500 jobs are to be cut wordlwide by 2011. More than half of the jobs will be lost at the companies sites in Germany. Parts of its postpress packaging at its site in Mönchengladbach will be offshored to Slovakia. Currently, 240 workers are employed in Mönchengladbach. Job cuts are still to be negotiated with employee representatives. The company is covered by a so-called agreement on safeguarding the future which runs till 2012. At the end of March 2008, the company employed 19,596 employees worldwide.
Eurofound (2008), Heidelberger Druckmaschinen, Internal restructuring in Germany, factsheet number 66840, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66840.