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 car manufacturer Ford announced 5,000 dismissals in Germany due to internal restructuring. The job reduction is part of Ford’s global savings programme (24,000 jobs cut), intending to save USD 500 million (€445,8 million). In the last 10 years, Ford has not been able to get a sustainable positive operating result in Germany. All three production sites in Germany are facing cuts – Cologne, Aachen and Saarlouis. Furthermore, both permanent staff and temporary workers will be affected by the job reduction. An exact distribution has yet to be announced. Ford plans to avoid compulsory redundancies and intends to achieve the job reduction by offering severance payments to employees aged 49 and younger or offering early-retirement programmes to employees aged 50 or older. Currently, Ford has 24,000 employees in Germany.
Eurofound (2019), Ford, Internal restructuring in Germany, factsheet number 97561, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97561.