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.
German electric motor manufacturer Hanning Elektro-Werke is to dismiss 163 employees in Vilnius by the end of 2022. The main reason for the dismissal is the closure of the company’s subsidiary in Vilnius. Operations at the subsidiary in Vilnius will finish by the end of 2022. Lithuania has become too expensive for the company’s shareholders. Hanning Elektro-Werke set up a branch in Romania five years ago, and, according to the management, Lithuania is less attractive than Romania in terms of wages.
Hanning Vilnius was established in Vilnius in 2004 and currently employs 163 people. The subsidiary in Vilnius was focused on the manufacturing of motors and components, like rotors and stators for customised drives and drive systems.
Eurofound (2022), Hanning Vilnius, Closure in Lithuania, factsheet number 106514, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106514.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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