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 3 March 2013, the Swiss-based company Georg Fischer announced plans to substantially reduce its workforce by the end of 2013. According to reports, the planned job reductions will affect all company plants in Austria and Germany, seven in total, including the company’s largest plant in Singen, Germany.
The majority of the job cuts will affect temporary workers, with most of the 400 temporary contracts not being renewed. In addition, 50 permanent positions in Singen will be affected. Moreover, the company is planning to rationalize its production in the coming years, which will further result in job losses. This will for example affect its plant in Herzogenburg, Austria, where due to new production processes the workforce will be reduced by 300 by 2015.
The company which mainly produces piping systems for water treatment and corrosion fluids, currently operates across 120 facilities worldwide and employs around 12,500 staff.
Eurofound (2013), Georg Fischer, Internal restructuring in European Union, factsheet number 75079, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75079.