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.
The producer of car parts Schumag is to cut 200 jobs in Germany. The company highlighted that short-time work was not enough to bridge the lasting decline in sales. Therefore, job cuts were considered necessary. Schumag employs 660 employees at the affected unit. The management of Schumag announced that the job reduction scheme will be negotiated with the works council in the near future. As of 2 April 2009, there is no information on exactly when the job losses will be implemented by.
Eurofound (2009), Schumag, Internal restructuring in Germany, factsheet number 68658, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68658.