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.
ThyssenKrupp, a German industrial conglomerate, announced plans to cut more than 3,000 jobs worldwide: ThyssenKrupp 2009 - WO, including between 1,800 and 2,000 in Germany.
The job reductions will affect the group’s steel and car parts units as well as its military shipyards in Germany. The restructuring has been announced as part of measures to address current market conditions, with the company warning that dismissals are planned as demand for its products declines.The company is reportedly considering transferring parts of its stainless steel business into an alliance with Finland’s Outokumpu.
On 13 May 2009, management and works council signed a joint statement saying that co-determination rights will not be touched and that direct lay-offs will be avoided.
ThyssenKrupp employs nearly 200,000 people worldwide. The company has stated that it does not foresee the closure of any plants as part of the restructuring.
Eurofound (2009), ThyssenKrupp, Internal restructuring in Germany, factsheet number 204499, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/204499.