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.
UPM, a Finnish pulp and paper manufacturer headquartered in Helsinki, has announced 401 job cuts at its site in Plattling, Bavaria. UPM Communication Papers announced the permanent closure of its mill in Plattling, Germany, reducing uncoated and coated printing paper capacity in Europe by 595,000 tonnes. The reason given for the job cuts is the decline in demand for graphic papers in recent years. The number of UPM employees affected in Plattling is estimated at 401. With the planned closure of UPM Plattling's two paper machines, production of graphic papers is to cease by the end of 2023. The company said it is working with employee representatives to find responsible solutions for its employees and is engaging directly in a fair dialogue. In March 2023, UPM had already announced the closure of a machine in Schongau, Bavaria, which will result in 135 job cuts (UPM-DE-2023) . Worldwide, UPM employs 17,200 people in 11 countries and has a turnover of EUR 11.7 billion.
Eurofound (2023), UPM Plattling, Closure in Germany, factsheet number 109332, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109332.
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