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.
Danfoss, a Danish-based global producer of compressors and condensing units for refrigerators and light commercial applications, has announced a second round of restructuring which involves 300 job losses at the headquarters in Nordborg (South Denmark). 200 jobs will be achieved through direct dismissals and 100 through natural wastage. Last October the company announced 350 job losses in Denmark. The management explained at the press conference that a significant slowdown in the economy in the last quarter of 2008 had made the redundancies necessary. Danfoss and the local unions will agree a set of measures to help redundant workers to find new jobs or re-train. The job losses in Denmark are part of a large restructuring plan that will result in the loss of 850 jobs worldwide.
As reported, Denmark has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2009), Danfoss, Internal restructuring in Denmark, factsheet number 68802, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68802.