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.
US car manufacturer General Motors has announced the cut of 8369 out of 48000 jobs at its European Opel plants. An additional 850 partial retirement jobs shall be axed when these workers retire. Opel's capacity needs to be cut by 20%, the company said. This includes the closure of the Belgian plant in Antwerp where 2,606 people are employed and 3900 job cuts in Germany, out of these 1,799 at Bochum. 900 jobs shall be shed in Spain. The works council rejects the plan.
On 9 Febuary 2010, Opel applied to the German federal government for EUR 1.5 billion in credit loans and guarantees. At the same date, GM applied for a total of EUR 1,2 billion in state aid to Great Britain, Spain, Poland and Austria.
Eurofound (2010), Opel, Internal restructuring in European Union, factsheet number 70158, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70158.