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 28 July 2021, the German shipbuilding company Meyer-Werft will be cutting 450 jobs at its site in Papenburg due to internal restructuring. While at the beginning of 2021 management had announced more than 1,000 cuts, negotiations between works’ council, trade union and management brought this number down to 450 (350 at the shipyard and 100 at the affiliate Ems Maritime Systems (EMS)). As part of the agreement, all employees who remain with Meyer-Werft will be working 100 hours per year without pay until 2023. Meyer-Werft intends to avoid compulsory redundancies and will try to achieve its job reduction goal via a voluntary programme and a transfer company.
Currently Meyer-Werft has 3,900 employees at Papenburg.
Eurofound (2021), Meyer-Werft, Internal restructuring in Germany, factsheet number 105111, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105111.