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.
Magna Steyr (Fahrzeugtechnik) is an Austrian automotive manufacturer and a daughter of Magna International. The headquarters and the largest production site of Magna Steyr is located in Graz, Styria. There, Magna has announced to cut 500 jobs, starting at the end of April 2024. Prior to this, Magna stopped the production of the new electric car model.
According to the local Public Employment Service, the job market has to offer enough jobs to production employees. Moreover, there are many more vacancies areas, such as services, temporary employment and transport.
Eurofound (2024), Magna Steyr, Internal restructuring in Austria, factsheet number 201090, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201090.