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.
Magna Steyr, specialist in automotive engineering and vehicle assembly, announced to create 150 new jobs in the production of the Mercedes G-Class in autumn 2015 due to the ongoing success of the model.
Additionally, Magna also declared a special need for new personnel by 2017 due to new contracts with Jaguar Land Rover. An estimated number of 2,000 new jobs will be created. To meet the anticipated demand of employees the Federal State of Styria, the Austrian public employment service (AMS) and Magna Steyr established the 'Regionale Implacementstiftung Automotive Styria' (implacement work foundation) for a maximum number of 1.530 people with a total budget of €9.2 million. The foundation provides training and re-training for unemployed people registered with the AMS so that their qualifications match the requirements of the vacant jobs. The focus is on mechatronics, mechanical engineering, painting and body construction.
Eurofound (2015), Magna Steyr, Business expansion in Austria, factsheet number 84253, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84253.