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.
Premium Aerotec, an affiliate of aircraft manufacturer Airbus, announced it plans to cut around 2,800 jobs in Germany by the end of 2021. Some 1,000 employee at its Bavarian site in Augsburg are affected by this step as well as 1,100 in Nordenham, 540 in Varel and 160 employees in Bremen. This step follows the parent company's announcement that it will cut over 3,000 jobs in Germany. The management has taken up negotiations with the works' council and a social plan needs to be developed. The company suffers from the losses in the aircraft industry due to the negative impact of the COVID-19 pandemic.
Eurofound (2020), Premium Aerotec, Internal restructuring in Germany, factsheet number 101222, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101222.