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 19 March 2021, the German automotive supplier Mann + Hummel will be closing its production site in Ludwigsburg which will result in the dismissal of 400 employees by the end of 2022. According to insiders, the job reduction is necessary to cushion the effects of the flagging economy. The announcement of the planned closure came in summer 2020, but only now, works’ council and management were able to find a socially acceptable solution for all employees. Mann + Hummel will give employees the choice to accept an open vacancy at one of its other German plants in Speyer, Marklkofen or Sonneberg. If they choose to accept this offer, the company will financially support the relocation. Furthermore, a transfer company will be set up and eligible employees will be offered early-retirement programmes.
After the closure of production, Mann + Hummel will have 1,000 employees working in research and development in Ludwigsburg.
Mann + Hummel has 22,000 employees worldwide.
Eurofound (2021), Mann + Hummel, Closure in Germany, factsheet number 103974, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103974.