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.
Wellemöbel, a German manufacturer of furniture, will cut between 270 and 320 jobs in Germany. The company filed for bankruptcy in December 2014.
The company has announced the closure of its Detmold site by 2016 with the loss of 137 employees. The planned restructuring will result in the retention of a total of 600 positions in Germany. The company has said that job reduction will be implemented in a socially acceptable manner.
The restructuring process has been subject to criticism by the company's works council. The chairman of the works council claimed that the employees have foregone special payments such as Christmas bonuses for 15 years in order to save their jobs. Trade union IG Metall has indicated that it may lodge complaints of unfair dismissal.
Eurofound (2015), Wellemöbel, Bankruptcy in Germany, factsheet number 79168, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79168.