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.
Electrolux has announced that it will examine the possibility of closing its AEG-washing machine factory in Nuremberg. The Swedish household appliances producer had earlier announced that it would close about half of its 27 factories in high wage countries in order to become more competitive. Over the last two years, prices for washing machines have come down by 15%, as Korean and Chinese producers have entered the market. The works council said that the closure could come in 2007.
On 15 March 2007, Electrolux announced the closure of the AEG-washing machine factory in Nuernberg. Originally, Electrolux intended to close down the site by the end of 2007. However, due to the persistently high number of staff away on sick leave, the company decided to shut down the factory nine months earlier.
Eurofound (2005), AEG, Closure in Germany, factsheet number 61719, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61719.