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.
74 out of currently 280 employees of the Styrian Lear production plant in Köflach, which is part of the US-based automotive supplier Lear Corporation, stand to lose their jobs by the end of 2008. The Labour Market Service (AMS), in the framework of the legal redundancies notification procedure, has already been given advance warning of this intention. This was confirmed by management on 31 July 2008. The Lear site in Köflach mainly produces seating systems. According to management, the planned redundancies have become inevitable, since the main costumer, the Magna Steyr Group located in Graz, has changed its production line. As a consequence, demand for complete seating systems has been slumping.
Eurofound (2008), Lear Corporation, Internal restructuring in Austria, factsheet number 66938, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66938.