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 insolvent automotive supplier Eybl International is to reduce its workforce by up to 250 workers at its plants in Krems and Gmünd within the next weeks. This information was made public through a press release issued on 28 January 2009. On 29 December 2008, the company had filed a petition in bankruptcy, due to a sharp fall in orders as a result of the global crisis, in particular in the automotive industry. At the end of December 2008, Eybl gave the public-law labour market service advance warning of the possible dismissal of 600 employees, in the framework of the statutory redundancies notification procedure. According to the latest news, as of 28 January 2008, up to 250 employees effectively stand to lose their jobs. Apart from this redundancy programme, the company has also sold its subsidiary Eybl Slovakia to the German Prevent group. These measures are aimed to secure the Eybl International sites in Krems and Gmünd in Lower Austria in the long run. The company is headquartered in Krems.
Eurofound (2009), Eybl, Internal restructuring in Austria, factsheet number 68009, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68009.