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 11 August 2010, US car manufacturer General Motors has announced the loss of around 3,400 jobs at its German Opel sites. Affected are the plants at its German headquarters in Rüsselsheim (1,300 jobs), in Bochum (1,800 jobs) and in Kaiserslautern (300 jobs).
The car maker was adversely affected by the global economic crisis and had applied for credit loans and guarantees from federal government funds. However, after the German government did not approve Opel's application,In June 2011, work council and management of car manufacturer Opel agreed on the details of the job reduction at the Bochum plant. In total, restructuring shall involve the cutting of 1,800 jobs. Out of these, 600 were already shed in 2010.
End of May 2011, works council and management of car manufacturer Opel finally agreed on the details of the job reduction at the Bochum plant. In total, restructuring shall involve the cutting of 1,800 jobs. Out of these, 600 were already shed in 2010.
Out of the remaining 1,200 posts, 300 jobs will stay till the end of 2013 for maintaining the production of gears. Another 100 workers have already agreed on switching to another factory. 300 employees will have the chance to switch to the company's factory in Rüsselsheim or the test centre in Dudenhofen. Still, 500 employees will lose their jobs. Opel announced to offer them a compensation payment of € 250,000 or relocating them to transfer companies. In case this is not possible, the company will have to announce enforced redundancies.
Eurofound (2010), Opel, Internal restructuring in Germany, factsheet number 70818, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70818.