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.
German multinational producer of pharmaceutical and chemical products Merck has announced plans to cut 400 jobs at its headquarters in Darmstadt. The company will shift from the production of liquid crystals into the production of semiconductors and electronic technologies instead. The move is due to increasing price competition by Asian competitors, according to a spokesperson for Merck. Direct dismissals will be avoided, as the company is negotiating a social plan with the works council and the trade union IG BCE. The positions are expected to be cut by the end of 2022.
Eurofound (2018), Merck, Internal restructuring in Germany, factsheet number 96168, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96168.