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.
On 8 October, beverage manufacturer Coca-Cola announced it would cut 485 jobs in Germany. Affected are its sites in Bad Neuenahr (Rhineland-Palatine), Sulzbach (Bavaria) und Liederbach (Hesse). The company has decided to change its business plans regards the mineral water Apollinaris. Whilst the mineral water is currently still available in supermarkets, it will only be produced for consumption in hotels and restaurants in the future. Consequently, Apollinaris' production sites will be shut down or sold by March 2021. Coca-Cola announced that it will start negotiating with works' councils as soon as possible. The company wants to offer affected employees severance payments and, if possible, job transfers to other sites. The union NGG has already announced it will fight the job reduction scheme.
Alongside with the job reduction scheme, the company also announced to create some 120 new jobs. Further news on the job creation is not yet available.
Coca-Cola currently employs 7,500 people at 29 locations in Germany.
Eurofound (2020), Coca-Cola, Closure in Germany, factsheet number 102042, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102042.