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.
Kolbenschmidt Pierburg, a firm that manufactures electronic components for the engines of motor vehicles, is to cut 500 jobs in Hamburg and Neckarsulm. The firm’s site at Hamburg will be closed with the loss of 200 jobs, whilst 300 of 600 workers at the firm’s Neckarsulm plant will be dismissed. Management at the firm have attributed the decision to the need to cut costs and to raise productivity. As of September 2007, there is no information on when the job losses will be implemented by. Kolbenschmidt Pierburg employs 12,700 internationally and is a part of the Rheinmetall group.
Eurofound (2007), Kolbenschmidt Pierburg, Closure in Germany, factsheet number 65853, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65853.