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 20 November 2008, the US-American company Wabco announced to cut approximately 600 jobs at its German sites by the end of 2008. Wabco produces braking and control systems for trucks. In detail, 300 temporary agency workers and employees holding a fixed-term contract have to leave the company. In addition, another 300 employees holding an open-ended contract are to loose their jobs. Sites affected are located in Hanover and Gronau (Lower-Saxony). Currently, Wabco employs 2900 staff in Germany.
Eurofound (2008), Wabco, Merger/Acquisition in Germany, factsheet number 67439, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67439.