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.
Plansee, a leading manufacturer of powder-metallurgical products and components, is to cut 360 of about 2,000 jobs at its headquarters in Reutte, Tyrol. The redundancies have partially already come into effect and are envisaged to be finalised by the end of 2009. Among the workforce affected, there are about 160 temporary agency workers and 200 permanent staff. However, management has announced that only a minority of the permanent staff affected will be directly dismissed. The company has established a re-employment scheme for the employees affected. The restructuring measures have become inevitable due to the current economic crisis. Management expects a reduction in turnover for the present year by a two-digit percentage rate.
Eurofound (2009), Plansee, Internal restructuring in Austria, factsheet number 69325, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69325.