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 19 March 2009, the German engine manufacturer Deutz announced to cut 600 jobs, mostly at its site in Cologne. 200 jobs shall be cut in a socially acceptable manner. In addition, 400 temporary agency workers will be affected by the cuts. Deutz had already downsized its number of temporary agency workers from 1,200 to 400 in the second half of 2008. At the end of 2008, Deutz employed 4,930 workers. By reducing personnel costs, the company seeks to balance its losses due to an ongoing slump in demand.
Eurofound (2009), Deutz, Internal restructuring in Germany, factsheet number 68539, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68539.