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.
Tobacco manufacturer Philip Morris has announced it will close its remaining two sites in Germany, located in Berlin and Dresden. 372 employees are affected by this decision. The company explained the plant closure with the declining demand for its products, brought on by fewer and fewer people in Europe smoking cigarettes.
The company is now seeking to find socially acceptable solutions for the affected employees and has entered talks with the competent works councils.
Whilst no definite closure date has been announced, the company nonetheless reported that it wants to close both sites within the first half of 2025.
Eurofound (2024), Philip Morris, Closure in Germany, factsheet number 201873, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201873.