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.
Finnish steel company Outokumpu moved forward with its restructuring programme aimed at reducing operational costs. The German Metalworkers’ Union (IG Metall) has already agreed with the company to cut around 180 jobs in Krefeld.
Outokumpu's restructuring aims to reduce fixed costs and improve efficiency of its processes and production. A decrease in demand for stainless steel and low-price competition from Asia require the company to reorganise its business and lower costs.
The job cuts are part of a larger job reduction programme, mostly affecting its European sites. Overall, some 650 EU jobs are to be shed by the end of 2027, registered by the ERM (Outokumpu 2025 - EU . Roles in administrative departments and sales are particularly under review.
Updated, 11/11/2025: It has now become known that Outokumpu plans to cut jobs not only in Krefeld but also at its site in Dillenburg, Hesse. 65 of the 550 positions there will be affected, as two production lines are to be closed. In addition, 50 more jobs are to be cut at the Krefeld site. This planned reduction is also part of the European job cuts, which will affect up to 650 positions in total.
Eurofound (2025), Outokumpu, Internal restructuring in Germany, factsheet number 203477, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203477.
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