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.
Engineering service provider IAV, active in the automotive sector, has announced that it will cut 1,500 jobs in Germany.
The reasons cited for the downsizing include economic weakness in Europe, structural change in the automotive industry, and a cost structure that is not competitive internationally. The company stated that the objective is to bolster its competitive position and transition from a domestically focused development service provider to a globally active technology partner.
The union IG Metall fears that the Stollberg site in Saxony could be particularly affected. Around 800 employees currently work there.
IAV employs 5,500 people in Germany and 6,600 worldwide. Volkswagen holds a 50% majority stake in the company.
In 2024, IAV had already cut 2,000 jobs in Germany IAV 2024 - DE.
Eurofound (2026), IAV, Internal restructuring in Germany, factsheet number 204329, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204329.