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.
Siegfried Hofmann, a German tool and machinery manufacturer based in Schney (Lichtenfels), announced the closure of its operations by 30 June 2027, resulting in 130 job cuts.
The decision follows declining economic conditions, reluctance from customers to invest and competition from China, forcing management to terminate production to preserve viability. Several attempts to tap into new business areas have failed.
The layoffs encompass all staff at the Schney plant.
The IG Metall has criticised the job cuts. The union is calling for negotiations on a social plan, severance payments and the establishment of a transfer agency. However, the employees have not elected a works councli yet.
Eurofound (2026), Siegfried Hofmann, Closure in Germany, factsheet number 301378, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301378.
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