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.
Automotive supplier Takata-Petri has announced plans to cut jobs at its Aschaffenburg site in Bavaria. The company says rising costs and price pressure in the automotive industry are the reason for the cuts. Takata-Petri is to stop making steering wheels in Germany and move production to Romania. However,the centre of excellence at the site is to remain and will actually be expanded. 371 jobs are to go at the Aschaffenburg site, which currently employs nearly 2,000 people. 290 of these jobs will be lost through redundancies and the remaining number will go through early retirement and normal levels of staff turnover. A deal has been agreed with the staff council to provide compensation and benefits.
Eurofound (2004), Takata-Petri, Internal restructuring in Germany, factsheet number 60896, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60896.