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.
German car manufacturer Opel will shut down the site in Bochum by the end of 2014 which will make up to 2,835 jobs redundant.
Originally, Opel employed 3,700 people in Bochum of whom around 300 have already found a new job and left the company. According to the sources, around 3,300 people work there currently. 265 of them will find new jobs at the distribution center of Opel’s partner Neovia. In addition to that, Opel offers further 200 jobs at other sites.
For the remaining 2,835 staff a transfer agency is going to be set up from January 2015. The company spends 552 million Euros for severance payments and job exchange. Employees over the age of 55 will be offered early retirement being paid 80 percent of their wages. Recently, 99 percent of the staff agreed to the social plan.
Opel has had lots of problems in the past years due to decreasing sales and high losses. This lead to several restructurings, starting with the dismissal of around 9,000 people in several EU member countries in 2010, a further cutting of 3,400 jobs in 2011 and several measures in 2012 and 2013 (see FS 08/2012, FS 10/2012, and FS 08/2013). All in all, around 18,000 jobs have been cut at Opel since 2010.
The company belongs to US-American General Motors and employs around 19,000 people in Germany of around 35,000 worldwide.
German authorities applied for European Global Adjustment Funds (EGF) on 26/02/2015.
Eurofound (2014), Opel, Closure in Germany, factsheet number 77758, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77758.
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