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 31 July 2024, the German automotive supplier ThyssenKrupp Automotive Body Solutions, which specialises in car body construction, will be cutting 400 jobs in Germany due to internal restructuring.
The company states that it is responding to deteriorating competitive conditions in Germany (particularly due to new, low-cost competitors from Asia). Parallelly, it aims to increase capacity at lower-cost locations outside of Germany. The structural realignment of the project business segment is intended to sustainably improve competitiveness and profitability and is expected to last until September 2025.
The main areas affected are the project business (a segment related to engineering) and, to a lesser extent, the service and administration area, especially at the Lockweiler and Burghaun sites.
The company has 2,100 employees worldwide.
Eurofound (2024), Thyssenkrupp Automotive Body Solutions, Internal restructuring in Germany, factsheet number 201548, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201548.