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 16 June 2020, the German automotive supplier and hose clamp manufacturer Norma will cut approximately 160 jobs at the company’s headquarters in Maintal due to internal restructuring. Mainly affected will be the administration and logistics units. Norma introduced a restructuring program called ‘Get on track’ in the fall of 2019, which did not exclude compulsory redundancies. The program’s goal is to save up to €45 million in costs annually until 2023.
Norma also intends to close its plant in Gebershausen and will relocate the production from Germany to Czech Republic, leading to the loss of 180 jobs.
Management and social partners will start negotiations regarding a social plan shortly.
Norma has 700 employees at its Maintenance plant and 980 in Germany.
Eurofound (2020), Norma, Relocation in Germany, factsheet number 101204, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101204.