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 April 2009, AE Group, the manufacturer of car parts, announced to cut 400 out of 1,400 jobs in Germany. Job cuts were considered necessary because short-time work and partial closure of sites were not sufficient to safeguard the future of the company after its move to file for insolvency. AE Group is to be restructured till August 2009.
Eurofound (2009), AE Group, Bankruptcy in Germany, factsheet number 68667, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68667.