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.
Getrag All Wheel Drive, which produces transmission components, will cut 385 jobs in Köping. 173 blue collar contracts and about 12 white collar contracts will be cancelled and 140 temporary contracts will not be renewed. A pre-retirement plan will be set up for 60 workers. According to the company, the plan which is to be implemented will consolidate the company's position and set the grounds for further business developments in Köping, where 1,000 jobs will be maintained. On 23 September 2004, although the news was not confirmed yet, the company could reduce the dismissals by 100 to 285 as a result of new orders from Ford and Fiat and the improved prospects published by Volvo, the company's largest client.
Eurofound (2004), Getrag All Wheel Drive, Internal restructuring in Sweden, factsheet number 60501, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60501.