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 announced on 6 December 2022, the German car supplier Continental has ended its tyre manufacture in Aachen in December 2022 which will result in the loss of 1200 jobs within the next year. Continental announced the end of production in 2020 for the end of 2021, however, due to negotiations between employee representatives and management, the shut down was postponed to the end of 2022. While the production was shut down in December 2022, 380 of 1,200 will continue to work at the plant for an additional year in order to organise the dismantle of the plant. Continental has offered affected employees an extensive qualification programme, which has been used by 800 of the 1,200 employees.
Previous restructuring events at Continental have been recorded in the ERM Events database. During 2022, 1000 jobs in Romania (Continental-2022-RO) and 100 jobs in Lithuania (Continental-2022a-LT) were created, while 870 job cuts were announced in Germany (Continental-2022b-DE).
Eurofound (2022), Continental, Closure in Germany, factsheet number 108129, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108129.