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.
As announced on 5. May 2020, the German packaging company STI group will close its plant in Grebenhain, Hessen, and plans to relocate all processes to other plants. This restructuring will affect 283 employees. The management holds the closure for inevitable since the Grebenhain plant has been experiencing operational losses since 2014/15 - negative effects were intensified in the first quarter of 2020 by COVID-19.
STI intends to offer as many jobs at other plants as possible to the affected employees - if possible in the region of Grebenhain. While a timeframe for the closure has yet to be announced, the management and works council will start negotiations on a social plan shortly, to find adequate solutions for each employee.
Eurofound (2020), STI Group, Closure in Germany, factsheet number 100631, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100631.