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.
At the beginning of December 2021, automotive supplier Schaeffler announced to close down its site in Luckenwalde (Brandenburg) by July 2023 and 330 workers will lose their jobs. The plant in Luckenwalde produces parts for combustion vehicles for the automotive industry and Schaeffler is increasingly focusing its automotive division on electric drives.
The company had looked for a new investor, but negotiations with potential buyers and employee representatives failed in the end. Following the failed investment negotiations, Schaeffler announced to take up negotiations on job cuts with employees representatives. Job cuts will be realised in a socially acceptable manner.
Eurofound (2021), Schaeffler, Closure in Germany, factsheet number 106083, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106083.