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 8 December 2008, steel producer ArcelorMittal announced to cut 1,200 jobs at its German sites. At its Bremen site, every fourth job is affected, i.e. the company is to cut 900 jobs. Another 300 out of 2,600 jobs will be lost in Eisenhüttenstadt. In Eisenhüttenstadt a further 300 jobs will be affected by a reduction in working time. The job cuts are part of the company’s global restructuring programme that envisages 9,000 job cuts (see fact sheet 12054). A spokesperson of the company stated that the management is looking for socially acceptable solutions to realise the job cuts, including compensation payments.
Eurofound (2008), Arcelor Mittal, Internal restructuring in Germany, factsheet number 67612, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67612.