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.
Schüco, German manufacturer of windows, doors and facades will cut 100 out of 750 jobs at its plant in Weißenfels in order to save costs. Schüco is also planning to convert its plastics department into a legally independent subsidiary at the beginning of 2016. The job reductions are to be implemented by not prolonging employment contracts and early retirement. Schüco currently employs 750 people at its Weißenfels plant. The company has ceased production in Haan last year which affected 150 employees. In the plastics department, Schüco has run a loss of 4 pc in 2014 which according to the company made the closure and further cost saving necessary.
Eurofound (2015), Schüco, Internal restructuring in Germany, factsheet number 79846, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79846.