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 18 October 2024, the Austrian steel company Voestalpine is closing its plant in Birkenfeld, Rhineland-Palatinate. The closure will affect around 220 employees.
The plant is part of the company's automotive division and produces steel and aluminium parts for car manufacturers. According to the company, the Birkenfeld site is no longer profitable due to the weak demand in the automotive industry. The company is seeking socially responsible solutions for the employees.
At the Dettingen site in Baden-Württemberg, up to a third of the 650 employees could also be affected by job cuts. The company employs around 50,000 people worldwide.
Eurofound (2024), Voestalpine, Closure in Germany, factsheet number 201801, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201801.