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.
German automotive supplier Schaeffler is to cut 900 jobs in Germany by the end of 2016.
In Schweinfurt, up to 400 (out of 6,000) jobs are to be cut, with the plant’s production of wheel bearings being relocated to Slovakia. This measure is to include early retirements and internal mobility. An initial time-frame until 2015 had been extended to cushion social effects.
In Wuppertal, 500 (out of 1,500) jobs are to be cut by the end of 2015, of which 226 in the short range. Furthermore, the contracts of most apprentices completing their training in 2014 will not be extended. From February 2014 on, employees are offered to be employed in an interim employment company.
The measures are reported to be due to increased competition (Schweinfurt) and overcapacities (Wuppertal), respectively.
In both cases, Schaeffler aims to avoid forced redundancies, if possible, and to reduce workforce by early retirement, severance payments and internal relocation.
Schaeffler employs a total of 29,000 people in Germany and 76,000 people worldwide. For previous restructuring announced by the Schaeffler group see 2013 and 2012.
Eurofound (2013), Schaeffler, Internal restructuring in Germany, factsheet number 76082, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76082.