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.
Knowles Electronics Austria, a manufacturer of mobile phones speakers, is to make 283 employees redundant in Vienna as production is relocated to Asia by midyear. Another 60 employees will relocate internally.
Changes in the market caused a drop in the production volume in recent years. As the company declared, continuous financial losses called for this step. In the upcoming half of the year, the production of the site in Vienna is going to be relocated to Asia.
Management and the local works council agreed on a social plan for the 283 employees made redundant. Approximately 60 of the 343 employees are going to stay at the site in Vienna, which is transformed into a technology and design centre that is focusing on the development of new technologies.
The company is a subsidiary of Knowles Corporation (with headquarters in Illinois, US) and has provided the world’s top mobile phone manufacturers with speakers and receivers.
Eurofound (2014), Knowles Electronics Austria GmbH, Offshoring/Delocalisation in Austria, factsheet number 76817, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76817.