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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.92 - Manufacture of bicycles and invalid carriages
370 jobs Number of planned job losses
Announcement Date
13 February 2017
Employment effect (start)
13 February 2017
Foreseen end date
Description
On 13 February 2017, insolvent German bicycle manufacturer Mitteldeutschen Fahrradwerke (Mifa) announced to cut 260 jobs. Only 250 employees will remain in Sangerhausen, Saxony-Anhalt.
About 210 employees will switch to a transfer agency for further qualification measures. Another 50 staff members already cancelled their contracts since the company filled for insolvency in the beginning of January 2017. The company is currently negotiating with the works’ council about a social plan and the social selection.
At the moment, 520 employees are working at the Mitteldeutschen Fahrradwerke.
UPDATE: On 27 March 2017, German bicycle manufacturer Mitteldeutschen Fahrradwerke (Mifa) again announced plans to cut jobs due to insolvency. Another 110 jobs will be cut with only 130 employees remaining at the company. The insolvency administrator explained that the Mitteldeutschen Fahrradwerke does no longer have the necessary liquidity to finance ongoing manufacturing activities.
Negotiations about a social plan are still underway.
UPDATED 24/07/2017: On 20 July 2017, the insolvency administrator of Mitteldeutschen Fahrradwerke announced the takeover of the company from the investor Stefan Zubcic. All 130 employees will remain at the company, which will be renamed Sachsenring Bike Manufaktur.
Sources
14 February 2017: Frankfurter Allgemeine Zeitung (print)
21 February 2017: Die Welt
27 March 2017: MDR.DE
20 July 2017: Süddeutsche Zeitung
Citation
Eurofound (2017), Mitteldeutschen Fahrradwerke, Internal restructuring in Germany, factsheet number 90377, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90377.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
