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.
Dutch automotive group Stern Groep plans to register a €3 million annual cost savings through the reorganisation of its car cluster Stern 2, the company's chief executive officer, Henk van der Kwast, announced on 31 August 2005. The effect from the reorganisation should be registered in 2006. The Stern 2 group integrates the car dealing units of General Motors, Fiat, Alfa Romeo and Lancia. Stern will close a number of branches of this cluster and will cut some 100 jobs. Fifty-five jobs will be cut through natural attrition, while the remaining 45 employees will be collectively laid off.
Eurofound (2005), Stern 2, Internal restructuring in Netherlands, factsheet number 62376, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62376.