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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.3 - Manufacture Of Parts And Accessories For Motor Vehicles
150 jobs Number of planned job losses
Announcement Date
31 July 2023
Employment effect (start)
31 July 2023
Foreseen end date
1 January 2025
Description
The automotive supplier Stabilus, headquartered in Koblenz, Germany, has announced the reduction of about 150 employees at their Koblenz plant.
The job cuts are due to the modernisation of the main plant. The company said that the €10 million investment in modernisation and automation means that fewer production staff are needed. The 150 production jobs are to be eliminated by 2025. The job cuts are to be made without compulsory redundancies through natural fluctuation and retirement.
Stabilus employs about 7,100 people, 1,400 of whom work in Koblenz. In the past quarter, the third in the 2022/23 business year, turnover was €306.5 million.
31 July 2023: Wirtschafts Woche (online) (www.wiwo.de)
Citation
Eurofound (2023), Stabilus, Internal restructuring in Germany, factsheet number 109351, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109351.
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