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 24 August 2009, model railway set manufacturer Märklin stated it has cut 370 jobs throughout the EU. First news of job cuts occurred in March 2009 when the preliminary insolvency administrator Pluta was named to take over the case. He told the press that around 400 out of 1,417 jobs are to be cut. Detailed plans foresaw job cuts at the following sites: 166 jobs out of 651 jobs in Göppingen, 180 out of 520 jobs at the Hungarian sites in Györ, 51 out of 58 jobs in Nüremberg. Back in March, talks with the works' council were to be held. The August news confirms that restructuring at Märklin is being realised. Details on the employment effect timeline are not available as of 31 August 2009.
Eurofound (2009), Märklin, Bankruptcy in European Union, factsheet number 69462, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69462.