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 12 March 2009, Gildemeister announced it is to cut 1100 jobs in Germany. Gildemeister manufactures cutting machine tools. The company stated that they were not to retain their 500 temporary agency workers, and no jobs could be offered to their 300 apprentices. In addition, 100 staff holding an open-ended contract and another 200 staff holding a fixed-term contract were to leave the company. The background to the job cuts is a great drop in orders. Gildemeister employs around 7000 staff.
Eurofound (2009), Gildemeister, Internal restructuring in Germany, factsheet number 68511, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68511.