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.
As announced on 4 November 2014, STI Group is to cut 110 out of 410 jobs in Grebenhain. The job reduction is going to be implemented in the second half of 2015.
There are several reasons for the reduction. According to the management, the company suffers from changing consumer behavior, increasing costs for energy and material and competition due to e-commerce.
Until 2020, the company intends to invest €100 million in its production sites. STI Group is a producer of packages and displays and employs around 2,000 people in total.
Eurofound (2014), STI Group, Internal restructuring in Germany, factsheet number 77797, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77797.