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.
Magna Steyr, specialist in automotive engineering and vehicle assembly, is to cut some 300 temporary agency workers in Graz-Thondorf from February 2014.
This is due to the decline in the production of vehicles and a switch from three to two work shifts.
During 2013, some 400 permanent workers have been hired by the company.
Update 11-09-2014:
The company has confirmed that 200 temporary agency workers, who were initially to be made redundant last February, are now sent back to their recruiting companies. Due to strong levels of orders the reduction was postponed and the number of job cuts reduced from 350 to 200, according to the company’s spokesperson.
Eurofound (2013), Magna Steyr, Internal restructuring in Austria, factsheet number 76347, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76347.