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 30 January 2024, in light of the automotive industry crisis, Continental plans to close several plants within its plastics division, ContiTech, across four German states. A total of around 580 jobs will be affected.
The planned closures include ending production in Bad Blankenburg (Thuringia), Stolzenau (Lower Saxony), and Moers (North Rhine-Westphalia), as well as halting tool manufacturing at the dual sites of Frohburg and Geithain (Saxony). Additionally, operations at the Hamburg site for the soon-to-be independent business unit Original Equipment Solutions will be scaled down. As part of the planned spin-off of Continental’s automotive supply division, a production line will also be relocated from the ContiTech site in Hanover to an automotive site.
The goal is to implement these measures as socially responsibly as possible, aiming to offer many employees opportunities to transfer to other parts of the company, said Continental board member Philip Nelles.
In Germany, ContiTech has 22 sites with a total of around 11,000 employees.
Eurofound (2025), ContiTech, Closure in Germany, factsheet number 202315, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202315.
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