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 17 December 2020, the French tyre manufacturer Michelin has shut down its production in Hallstadt which employed 860 people. The last tyre was produced the day before. Afterwards all machines were shut down. The previously negotiated social plan will financially take care of all employees until the end of 2022. Furthermore, 200 employees have already found a new job at the Michelin plant in Bamberg and another 300 employees are participating in further training courses. Another 65 employees are part of the ‘revitalisation’ of the plant. The goal is to develop the ‘Cleantech Innovation Parc’, which will provide a platform for projects focusing on sustainability. Overall, 595 employees are leaving Michelin.
Eurofound (2020), Michelin, Closure in Germany, factsheet number 102928, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102928.