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 steel manufacturer Böhler-Uddeholm Precision Strip is to cut 80 out of its 525 employees at its site in Böhlerwerk, Lower Austria. The measures will come into effect within an indefinite time period. According to management, the planned restructuring is caused by continued worsening of the economic situation in practically all essential markets. In order to make the dismissals socially acceptable, the employees concerned may opt for a re-employment scheme, which also includes some financial compensation.
As reported, Austria has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2009), Böhler-Uddeholm Precision Strip, Internal restructuring in Austria, factsheet number 68837, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68837.