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 Austrian manufacturer of tanks, Steyr, is to make between 250 and 330 of its employees redundant. The restructuring measure will be implemented from the beginning of 2014. The company, which is a subsidiary of the General Dynamics group, currently employs 400 workers, including permanent staff and temporary agency workers. According to the company's works council's chairman Mr Bauer, the job cuts are not to be implemented at once. Negotiations on a social plan have been ongoing since the summer and are almost finished. The company is about to be confronted with a lack of orders, once a large contract for the production of wheeled armoured tanks with Kuwait runs out in April 2014.
Update, 18-03-2014:
According to new sources, redundancies have been reduced to 160 to 210. Cuts are to be made within the next few months starting in April 2014.
Eurofound (2013), Steyr, Internal restructuring in Austria, factsheet number 75991, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75991.