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.
Voith Paper, industrial machinery supplier for the paper industry, is going to shut down its production site in St. Pölten, Lower Austria. The closure will result in a total job loss of 150 positions.
According to the company, which forms part of the German multination group Voith, the closure will be completed by the end of March 2016. Consequently,150 out of 200 employees will lose their jobs, while 50 employees have been offered to be employed at different production sites if they are prepared to relocate.
The closure is part of a company-wide restructuring process, affecting not only jobs in Austria but also in Germany. Reasons for this job reduction measures are economic difficulties due to digitalisation processes in the industry. Over the last ten years the global market potential for machinery in the papery industry has been cut by half. As a consequence, the industrial service devision will be discharged.
Employees’ representatives from the Federal Trade Union and the Chamber of Labour in Lower Austria criticised the step as unnecessary, arguing that this was a profitable division. A local works council representative doubts that there will be any changes, as the company has faced several internal restructuring during the last couple of years (as EF reported in 2013). According to the company, job cuts will be implemented in a socially acceptable way and a social plan will apply to the affected employees. However, trade unions demand a new social plan that goes beyond the former one.
Eurofound (2015), Voith Paper, Closure in Austria, factsheet number 78250, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78250.
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