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 24 August 2010, Lear Corporation shut down its Styrian production plant in Köflach, making all remaining 120 employees redundant. The US-based automotive supplier in the Lear site in Köflach produced mainly seating systems since 1991. In the middles of 2008, a third of the workforce was made redundant, and in 2008/09 most of the remaining 207 staff members were working part-time. According to management, the closure had become inevitable, because old contracts had come to an end and no new orders were commissioned. All employees were offered to enter the existing regional re-employment scheme 'automotive and suppliers'. It is expected that about a third of the workforce will enter this work scheme. Temporary agency workers who were employed at the Köflach production site are also concerned.
Eurofound (2010), Lear Corporation, Closure in Austria, factsheet number 71051, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71051.
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