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.
At Voestalpine Tubulars in Kindberg (Styria) 125 out of 1,300 employees are made redundant as production is scaled down form four to three shifts by September 2019. The company, which is a joint venture between the Austrian based voestalpine-group and the US based NOV Granz Prideco, produces seemless steel pipes. According to voestalpine tubulars, the restructuring in production is necessary because the US increased custom duties on steal- and aluminium products from Europe. Additionally, a declining oil price has reduced demands.
The affected 125 employees have been registered with the public unemployment service (AMS) and have been offered to make use of voestalpines' work foundation. An additional 50 employees have been transfered to different jobs wihtin the voestalpine-group.
Eurofound (2019), voestalpine Tubulars, Internal restructuring in Austria, factsheet number 98229, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98229.