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 insolvent German machine manufacturer Bielomatik will be acquired by two Italian investors in April 2020, which will ultimately result in the loss of 120 full-time jobs at its plant in Neuffen. While details on the agreement have not been published, the Italian investment requires that the workforce is reduced to 193 employees in total, which equals the loss of approximately 125 full-time jobs. Currently the company employs 340 workers, while 20 of them are in full-time traineeships. The traineeships will be prolonged after the acquisition. The affected employees will be able to transfer to a transition company, which intends to find new occupational opportunities for these employees.
Bielomatik, declared insolvency in October 2019, following the challenges in the automotive industry.
Eurofound (2020), Bielomatik, Merger/Acquisition in Germany, factsheet number 100061, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100061.
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