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.
Festo, a German industrial automation company, announced the elimination of 1,300 jobs across its operations in Germany.
The cuts affect a broad range of positions within the company, reflecting its commitment to streamline structures and adjust its cost base in response to heightened market pressures and intensified competition from Asia. The restructuring is part of a global transformation programme aimed at sustaining Festo’s leadership in automation technology and technical training.
The company is negotiating with the works council to ensure a responsible and socially viable implementation. The trade union IG Metall criticises the decision severely.
Festo remains a family-owned company with around 20,600 employees worldwide, including 8,200 in Germany.
Eurofound (2026), Festo, Internal restructuring in Germany, factsheet number 300346, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/300346.