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.
The US-based TRW Automotive company, a worldwide leader in automotive safety systems, plans to close its only Austrian production plant, which is located in Bergheim/Salzburg, by the end of 2008. This plant is specialising in manufacture of seat belts. Notification of the planned dismissal of all of the 545 employees of the site will be sent to the Employment Service on 28 July 2008. The first redundancies will be effective in October 2008. The whole production will be relocated to the Czech Republic and Poland by the end of this year. This was announced by the local management’s chairman, Hermann Hauser, after a works meeting held on 30 June 2008. Mr Hauser justified the envisaged relocation of production on the basis of permanently increasing prices of raw materials and decreasing product prices – as a consequence of growing pressure exerted by the large automotive concerns. Organised labour called these arguments cynical, since the company has consistently shown profits over the last 29 years. The management has promised to initiate negotiations on a social plan, with the aim of re-employment of at least 80% of the employees concerned. The works council remains sceptical about this rate, since most of the workers affected are low-skilled women with little labour market prospects.
Eurofound (2008), TRW Austria, Offshoring/Delocalisation in Austria, factsheet number 66793, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66793.
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