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.
Voith Paper, a leading manufacturer of paper machines, envisages 150 more job cuts in Heidenheim (Baden-Wuerttemberg) than previously announced. In mid-2012, the company had announced 280 job cuts in Heidenheim, where total job cuts now amount to 430. The total number of job cuts in Germany thus increases to 700.
The works council and trade union IG Metall agreed the termination of a collective agreement on job saving; direct dismissals will be avoided.
According to IG Metall, the problem is of structural nature as Voith's large machines face global competition by smaller and cheaper ones. Further job cuts are expected. In Heidenheim, a workforce of about 4,500 is currently employed.
Eurofound (2013), Voith Paper, Internal restructuring in Germany, factsheet number 75735, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75735.