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 9 December 2008, the manufacturer of pumps, compressors and cylinders Hyco announced to cut around 220 jobs at its site in Eschwege. The job cuts are attributed to the global financial crisis resulting in a severe drop in orders. The company operate six production sites worldwide at which 1,300 staff is employed.
Eurofound (2008), Hyco, Internal restructuring in Germany, factsheet number 67617, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67617.