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 German automotive supplier Schaeffler has announced it will cut 450 jobs in Germany due to internal restructuring. This comes as part of a future-oriented agreement which was signed three weeks ago by management, works council and the German Metalworkers’ Union. The job reductions are part of a plan to cut 950 jobs worldwide by 2021 which will result in a cost reduction of €60 million.
Schaeffler will try to avoid operational terminations and focus on socially acceptable solutions.
Currently, Schaeffler has 91,000 employees worldwide.
Eurofound (2018), Schaeffler, Internal restructuring in Germany, factsheet number 93995, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93995.