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.
Paper manufacturer UPM has announced to close down its site in Albbruck affecting 560 jobs. UPM had broken its restructuring plans to the public in August. Since then efforts were made to find an investor, but this did not have success.
The social plan will be negotiated in the next weeks. Already at the end of August 2011 the daily Badische Zeitung stated that the union IG BCE will want to fight the closure.
The restructuring is part of a wider restructuring plan of UPM's European activities, with announced cuts in Finland and France.
Eurofound (2011), UPM, Closure in Germany, factsheet number 72781, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72781.