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.
Whirlpool, US manufacturer of electrical appliances, has announced 5,000 job cuts in the US and Europe. This represents 10 per cent of the company's global workforce. As part of this restructuring, a factory will be relocated from Neunkirchen in Germany to Poland.
At this time, there is little information on how many of the job losses will occur in Europe.
The job cuts are said to follow weakened demand for Whirlpool's products. Additionally, inflation of material costs is also said to contribute to the need for cost-saving measures.
Eurofound (2011), Whirlpool, Internal restructuring in World, factsheet number 72668, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72668.