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 chemical company Hansa Group is to dismiss 100 people. Hansa Group has recently been acquired by Swiss Gemini Holding.
According to management and works council, the restructuring is the only way to assure the company’s future. In return, Gemini guaranteed to maintain production at several plants for two years and also excluded operational dismissals during that period. However, staff will have to accept a wage reduction of 10 pc and no pay increase during the next five years.
After the restructuring, 400 employees will remain at Hansa Group.
Eurofound (2014), Hansa Group, Merger/Acquisition in Germany, factsheet number 77879, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77879.
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