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 27 April 2009, the automotive supplier Mahle announced to cut around 4,900 jobs worldwide by the end of 2009. The cuts will mostly affect Northern and Southern America where 2,000 jobs are to be lost, Mahle is to close its production sites in Buenos Aires (now employing 470 workers) and in Alzenau in Germany (now employing 424 workers).
Mahle suffers from a dramatic decline in sales. Furthermore, Mahle's profits shrunk due to the increase of interest expenses and the accrual requirements for currency and raw materials.
Eurofound (2009), Mahle, Internal restructuring in World, factsheet number 68832, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68832.