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 12. May 2020, the German automotive supplier Flamm Aerotec will close its plant in Laage, Mecklenburg-Vorpommern, by the end of 2020, which will result in the loss of approximately 100 employees. According to management, the plant has been posting losses for the last decade and the current pandemic (Covid-19) has intensified the situation on the German automotive market, making the decision to close the plant in Laage necessary. Management will start negotiations with the works council regarding a social plan shortly. They will try to find socially acceptable solutions for every employee.
Eurofound (2020), Flamm Aerotec, Closure in Germany, factsheet number 100632, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100632.