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 5 July 2017, the manufacturer of materials handling systems Förderanlagen Magdeburg (FAM), announced it would cut 82 jobs in Magdeburg, Germany.
The layoffs were negotiated between management, the works council and the German Metalworkers’ Union (IG Metall). Additionally, the salary increases agreed upon for 2017 will be postponed until 2018. These steps resulted from fewer than expected customer orders. The aim of the savings program is to increase the company's ability to respond flexibly to fluctuating demand and to save the remaining jobs at the site in Magdeburg.
As of July 2017, Förderanlagen Magdeburg employs 1,418 staff members worldwide. An estimated 800 people are currently employed at the site in Magdeburg.
Eurofound (2017), Förderanlagen Magdeburg, Internal restructuring in Germany, factsheet number 91443, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91443.