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.
On 10 November 2006, Voith, one of Germanys leading producers of machinery, announced its intention to cut 230 jobs at its sites in Ravensburg.
Voith generated revenues of 3.7 million Euro in the business year 2005/2006. However, the revenues of its paper machinery branch decreased by approximately 10% compared to the year before.
Voith wants to expand into new business segments and restructure its paper machinery segment by cutting the jobs. Voith employs 15,300 persons in Germany (the numbers of employees for the single sites are not available). A certain time line for the job reduction scheme was not mentioned either.
Eurofound (2006), Voith, Internal restructuring in Germany, factsheet number 64431, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64431.