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.
On 20 November 2014, copper producer KME Germany announced to cut 210 out of around 2,000 jobs in Osnabrück.
In July 2014, KME announced the reduction of 140 jobs (see KME Germany 7/2014) which results in a total number of redundancies of 350. The company will cease the manufacture of rubbers which will make 180 jobs redundant. Further 170 jobs will be cut in order to increase the company’s competitiveness. In addition, the copper tube production is being moved to the KME plant in Menden, where 40 new jobs will be created. Since the financial crisis in 2008 the market for copper has decreased a lot which lead to a weak profit situation.
During the following months, management, works council and trade union IG Metall are to negotiate a social plan. The reduction shall be implemented by mid-2015.
KME Germany is a copper producer who belongs to Italian KM Europe Metal which employs around 6,800 people in total.
Eurofound (2014), KME Germany, Internal restructuring in Germany, factsheet number 77957, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77957.