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.
The automotive supplier Prevent has announced that approximately 700 employees will be affected by short-time work or operational terminations due to internal restructuring. As of April 2018, 90 employees at Prevent Foamtec in Stendal have already been terminated. Further terminations are expected at Prevent subsidiaries ES Automobilguss GmbH in Schönheide and Cartrim GmbH in Plauen. In March 2018, Volkswagen terminated their supply agreements with Prevent without notice. Prevent has announced it will pursue legal action against Volkswagen.
Eurofound (2018), Prevent, Internal restructuring in Germany, factsheet number 93801, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93801.