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.
Although Linde, the chemicals and engineering group, met in 2004 the targets that were only supposed to be reached in 2005, the future of its material handling division is uncertain.. Full details of the savings programme for the divisions will be revealed on 4 May 2005. The material handling division is made up of three subsidiaries, Linde Fahrzeuge, OM and Still. The division has already undergone a cost-cutting programme, but was further hit in 2004 by rising steel prices and the weak dollar. the loss of around 200 jobs in Hamburg (where 2,000 staff are employed) is now being negotiating and between 100 and 300 jobs are under review in Reutlingen, where it employs 550 people. It is not yet clear whether involuntary redundancies will come into play and details of the job losses are currently being negotiated with the staff council. Wolfgang Reitzle, Linde head, announced a further cost-cutting programme, mentioning job losses for the forklift truck division.
Eurofound (2005), Still, Internal restructuring in Germany, factsheet number 61327, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61327.