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 3 November 2016, paper manufacturer UPM Paper ENA announced to cut 150 jobs at its site in Augsburg. The company wants to reduce its capacities in Europe due to decreasing demand. Therefore, the production at two paper machines will be closed. One closure will take place in Augsburg and one in Steyremühl, Austria. However, at both affected production will continue using more competitive machinery.
The closure will take place after negotiations with the works' council which start in November 2016. At the moment 440 employees are working at the manufacturing site in Augsburg. About 9,000 employees are working for UPM Paper ENA in Europe and North America.
Eurofound (2016), UPM Paper ENA, Internal restructuring in Germany, factsheet number 89049, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89049.