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.
Glatfelter Corporation, a US based leading global supplier of engineered materials, has announced the closure of its plant in Ober-Schmitten, Germany, resulting in the loss of approximately 180 jobs. The reason for the closure is the continued underperformance of electrical and glassine specialty papers produced at the site. The measures are part of the company's turnaround strategy, which aims to improve the overall company's financial performance, the company announced. The economic committee and the works council of Ober-Schmitten have been informed about the closure and negotiations on a reconciliation of interests and social plan will start immediately, the company announced.
Astrid Rasner, trade union secretary of the Mining, Chemical and Energy Industrial Union (IGBCE), wants to examine possibilities to save the site after all together with the works council and the economic committee.
As of 31 December 2022, the company employed approximately 3,250 employees worldwide at sixteen manufacturing sites in the United States, Canada, Germany, the United Kingdom, France, Spain and the United Kingdom, France, Spain and the Philippines.
Eurofound (2023), Glatfelter , Closure in Germany, factsheet number 109271, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109271.