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.
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Fabricated Metal Products, Except Machinery And Equipment 25 - Manufacture of fabricated metal products, except machinery and equipment
188 jobs Number of planned job losses
Announcement Date
7 December 2004
Employment effect (start)
7 December 2004
Foreseen end date
Description
The Upper Austrian supplier of alloy components mainly for the German automotive industry, Erku Druckguss, has gone bankrupt. This was reported by the Kreditschutzverband (KSV) on 7 December 2004. Due to the firms economic dependency from German demand, marketing difficulties of the German automotive industry have directly been reflected in its order situation. Moreover, the company, during recent years, has had technical problems in manufacturing, which has resulted in the withdrawal of important clients. All 188 employees of the company stand to lose their jobs.
Sources
7 December 2004: Der Standard
7 December 2004: Wirtschaftsblatt
Citation
Eurofound (2004), Erku Druckguss, Bankruptcy in Austria, factsheet number 60915, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60915.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
