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 24 April 2018, the foundry Meuselwitz Guss announced the loss of 100 jobs in Meuselwitz due to internal restructuring. According to management, cuts are necessary since the company’s revenue decreased by 25% last year, which can only be absorbed by a job reduction in order to save the company’s future. The German Metalworkers’ Union (IG Metall) opposes these plans and questions the lack of alternatives as portrayed by the company’s management. In fact, IG Metall has accused the company’s management of extortion as the company mentions in its press release that job cuts might be avoided if employees were to waive wage increases in the upcoming bargaining round.
Currently, Meuselwitz Guss has 345 employees at its site in Meuselwitz.
Eurofound (2018), Meuselwitz Guss, Internal restructuring in Germany, factsheet number 93885, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93885.