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 For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.1 - Manufacture of motor vehicles
100 jobs Number of planned job losses
Announcement Date
31 August 2005
Employment effect (start)
Foreseen end date
Description
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.
Sources
31 August 2005: Het Financieele Dagblad
Citation
Eurofound (2005), Stern 2, Internal restructuring in Netherlands, factsheet number 62376, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62376.
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