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 Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture of parts and accessories for motor vehicles
170 jobs Number of planned job losses
Announcement Date
21 February 2017
Employment effect (start)
21 February 2017
Foreseen end date
31 December 2018
Description
On 21 February 2017, the management of automotive supplier Megatech and the German Metalworkers’ Union released an agreement over a social plan to cut 170 job in Waldbröl within the next two years. In 2017 about 80 employees will leave the company and in 2018, the figure will be at about 90. A total of 32 employees will soon switch to a transfer agency for further qualifications. The other affected employees either terminated their employment, will go into retirement or their fixed-term contracts will not be prolonged.
The German Metalworkers’ Union announced that if these measures do not generate enough redundancies trough, there will be compulsory redundancies.
About 400 employees are working at the Waldbröl site at the moment.
Sources
21 February 2017: Oberberg-aktuell.de
24 February 2017: Kölnische Rundschau
Citation
Eurofound (2017), Megatech, Internal restructuring in Germany, factsheet number 90384, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/90384.
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