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.
Automotive supplier Whitesell announced to cut at least 650 of 1,300 jobs in Germany. As reported, the headquarters in Neuss will be closed which will make 300 jobs redundant. Furthermore, 350 jobs will be cut at other sites in Saarland, Rhineland-Palatinate and Baden-Württemberg.
At the end of 2013, the American producer of screws acquired insolvent Ruia. According to the management, some customers had already abandoned the company before, which led to increased operational and personnel costs in the past months.
Eurofound (2014), Whitesell, Internal restructuring in Germany, factsheet number 77321, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77321.