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 3 March 2009, the steel supplier Klöckner & Co announced to cut 700 jobs in Germany. The new job cuts are the second wave of dismissals. In autumn 2008, the company had already cut another 800 jobs. Background to the ongoing reduction scheme is a severe drop in demand for steel products. The management tries to reduce costs by 100 million euro. Klöckner & Co employ around 10,000 employees worldwide.
Eurofound (2009), Klöckner & Co, Internal restructuring in Germany, factsheet number 68467, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68467.