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 US based company Flowserve, specialized in manufacturing transporation systems for liquids, gas and fumes, has announced 126 job cuts in Brunn am Gebirge (Lower Austria). The company referred to global difficulties in the oil and gas industry which required restructuring and the reduction of production capacities. Flowserve will cease production of pumps on the site in Brunn am Gebirge by the end of 2019, keeping only the competence centre with 60 employees. In the centre the focus will be on engineering, research and development and costumer service. Currently, the company employs 186 people at the site. Negotiations about a social plan for affected employees are currently underway.
Eurofound (2018), Flowserve SIHI, Internal restructuring in Austria, factsheet number 94466, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94466.