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 31 July 2017, the German automotive supplier Schaeffler announced it will increase its investment in electric powered drive systems and create 1,200 new jobs by 2020, doubling the number of employees working on electric drive systems.
The investment in electrification, which will be around €500 million over the next 3 years, comes as a consequence of the diesel scandal and is an effort to step into branches such as energy storage solutions, robotics and automatic driving systems.
As of August 2017, Schaeffler has 32,000 employees in Germany.
In 2015, Schaeffler had cut 500 jobs in connection with internal restructuring, and in 2016 the company created 180 new jobs as part of its relocation activities.
Eurofound (2017), Schaeffler, Business expansion in Germany, factsheet number 91717, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91717.