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.
Schaeffler, a German automotive supplier and bearing producer, will cut 500 out of 2,800 jobs of its sales and administration department in Herzogenaurach and Schweinfurt. The job reduction will equally concern other European countries; on average sixth job at this department will be affected.
In the future the company wants to focus more strongly on its automotive business and is beginning to reduce the size of its industrial division. However, the company is not planning to implement compulsory redundancies. It aims to integrate as many staff as possible into its automotive division.
Schaeffler has previously announced to cut 900 jobs in Germany at the end of 2016 (see 2013).
Eurofound (2015), Schaeffler, Internal restructuring in Germany, factsheet number 84588, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84588.