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 13 November 2008, Continental, a producer of tyres and automotive technology, announced to cut 371 jobs at its site in Babenhausen which currently employs 1,101 people. Jobs are to be lost in its production unit which manufactures speedometers. This move of Continental is to be completed by the end of 2012. A spokesperson of Continental stated that the company was to concentrate its production on high-tech products in Germany. Manufacturing of other products, such as those in Babenhausen, was to be transferred to low-wage countries.
Eurofound (2008), Continental, Offshoring/Delocalisation in Germany, factsheet number 67385, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67385.