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 confirmed on 20 May 2020, German automotive supplier Continental will close its coolant plant in Oppenweiler by March 2022, causing the loss of 312 jobs. The management and social partners were able to agree on a plan to gradually shut down the plant. By 31 December 2020, 108 employment contracts will be terminated, 3 contracts will be terminated by 31 March 2021, 136 until 31 July 2021, 44 by 30 September 2021, 14 by 31 December 2021 and rest 7 in March 2022.
Continental will offer support services to affected employees such as further training programmes and help with the application process.
The decision is motivated by the economic inefficiency of the plant.
Eurofound (2020), Continental, Closure in Germany, factsheet number 101197, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101197.