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 Bauknecht plant at Schorndorf close to Stuttgart, a subsidiary of the US-company Whirlpool is to cut 190 jobs from this year on. Bauknecht is manufacturing a type of washing machine marketed mainly to the US-American market. The economic position was affected by the economic crisis which led to lower sales in the US. Moreover growing competition especially from Asian manufacturers in the US Market and focus on one particular type of product are said to be the reasons for the job cuts. The management is currently in negotiations with the works council. Bauknecht will try to find a solution that is socially acceptable, a speaker of the company said. Job cuts can be expected to start in 2011, yet no precise time frame is given.
Eurofound (2011), Bauknecht, Internal restructuring in Germany, factsheet number 71944, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71944.