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 June 2009, Schlott Group, a German media service provider for printing and direct services held by equity firm Sebaldus Beteiligungsgesellschaft, announced to cut 350 out of 2330 jobs at its subsidiaries Broschek and Biegelaar by spring 2010. Jobs cuts will affect the printing company Broschek at Hamburg, Selle and Lübeck in Germany and the company Biegelaar at the Dutch site Maarsen.
The plans will be implemented against the vote of the worker representatives at the supervisory board, manangement said. Further cost-cutting measures include the shedding of an collectively agreed annual bonus payment and the lengthening of weekly working hours. The capacity of the machines will substantly be lowered.
Schlott Group, which reported a EUR 12.5 million loss in business year 2007/2008, plans to increase its results by EUR 25 mill. by 2010/2011. Management says it may ask for public aid.
Eurofound (2009), Broschek, Biegelaar, Internal restructuring in European Union, factsheet number 69087, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69087.