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.
Austrian steel company Voestalpine announced its plans to close its subsidiary TSTG Schienen Technik in Duisburg (North Rhine-Westfalia) and thus make 350 people redundant. This is due to overcapacities and price pressure. Job cuts will be implemented by January 2014. A social plan is in place providing severance payments and job-search assistance i.e. employees may have the possibility to be employed in a transfer company for twelve months and gain job experience.
Eurofound (2013), TSTG Schienen Technik, Closure in Germany, factsheet number 75446, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75446.