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 14 March 2020, the German automotive supplier Schaeffler will be closing its plant in Wuppertal which will result in the reduction of 670 jobs. The production activities of the plant will be overtaken by other plants of the company located in China, Romania and Germany (Schweinfurt). The closure is part of a large Europe-wide restructuring programme by Schaeffler affecting 4,400 employees in Germany. Schaeffler intends to achieve its goal by the end of 2022 mainly via a voluntary programme. Regarding the closure of the plant in Wuppertal, management and works’ council will start negotiations on a social plan shortly.
Schaeffler has 83,000 employees worldwide.
Previous restructuring programme on the national level was announced in October 2019 (1300 job reductions).
Updated, 23/4/21:
On 23 April 2021, the business daily Handelsblatt reported that Schaeffler is negotiating social plans for a total of 12 plants in Germany, with negotiations regarding the plant in Wuppertal still being in progress. The business daily stated that the company plans to shed a total of 4,400 jobs worldwide. Most of the jobs will be lost in Germany, but no definite figure has been released.
Eurofound (2021), Schaeffler, Offshoring/Delocalisation in Germany, factsheet number 103923, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103923.
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