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 enamelled wire manufacturer, Essex, will cut 120 out of around 380 jobs by the end of 2015. The reduction will affect both production plants in Bad Arolsen, which will close, and Bramsche with respectively 110 and 10 jobs.
The company intends to concentrate on round-wire production and to reduce production of flat wire where competition is stiffer. In the following weeks, the detailed restructuring plan is to be negotiated between management, works council and trade union IG Metall. The union has criticized the job cutting and indicated its suspicions that the company intends to relocate flat wire production to Italy. The management says the job reduction is necessary to secure the future of the German plants.
Eurofound (2015), Essex, Closure in Germany, factsheet number 78222, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78222.