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 announced on 2 March 2021, the German industrial group Siemens will be shutting down production at its plant in Ruhstorf by the end of 2023 which will affect 330 employees. Negotiations with a possible investor failed making this step inevitable according to Siemens. Approximately 210 jobs will be relocated to Nürnberg and 120 jobs will be cut. Negotiations between management and works’ council will start shortly.
The wind energy division Flender with 120 employees and additional 100 specialists will remain in Ruhstorf.
In 2016, the plant already faced a possible closure which was, however, averted. Nevertheless approximately 600 jobs were cut (Siemens, 2016).
Eurofound (2021), Siemens, Closure in Germany, factsheet number 103746, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103746.