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.
EPCOS, manufacturer of electronic components for the automative and IT-industry, has announced it will offshore 400 jobs to Asia. EPCOS emerged from the joint-venture Siemens Matsushita Components and is now a leading Germany-based manufacturer of electronic components for the automotive and IT-industry. The affected employees are at its plant in Munich. The company said it plans to reduce costs by about EUR 5 million. The plant in Munich currently employs 1,250 workers; EPCOS has a global workforce of 18,000. At Munich, the offshoring measure will affect temporary workers. As of May 2008, there is no information on when the job cuts will be implemented by.
On 9 Febuary 2009, EPCOS announced that the company implemented 300 job cuts at Munich and a total of 4,100 job cuts worldwide in the first quarter of the running business year. There may be additional cut cuts, the comapny says, depending on the economic crisis.
Eurofound (2008), EPCOS, Offshoring/Delocalisation in Germany, factsheet number 66620, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66620.
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