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.
Wilhelm Karmann, a family-owned full-service vehicle supplier specialised on open-top sports cars, will continue its job cutting measures in Germany. The company did already reduce its German workforce by 400 in 2005. In August 2006, the company announced that 630 manufacturing jobs will be shed at its Osnabrück plant - less than the company had previously planned for. Additionally, several hundred administrative jobs shall be cut as soon as management and the company's works council come to an agreement on the job cutting measures. Management expects this to happen by November 2006.
Karmann employs a workforce of 5,100 at Osnabrück, 6,680 in Germany (2005 data) and a total of 8,800 worldwide. According to management, Karmann has to respond to decreasing sales figures of open-top sports cars, those of the Chrysler car Crossfire in particular.
Starting 1 Oct 2006, the 630 employees affected will for one year be employed at a 'transfer company' and be paid by the Federal Employment Agency (67%) and Karmann (18%).
Eurofound (2006), Wilhelm Karmann, Internal restructuring in Germany, factsheet number 63963, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63963.
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