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 automotive supplier Veritas is to cut 250 out of 1,800 jobs in Gelnhausen. The reduction is part of a larger restructuring programme and shall be implemented in a socially acceptable manner.
According to the two CEOs, competition is rough and costs widely exceed prices. Veritas currently employs 4,700 people worldwide and has recently run a turnover of €600 million.
Eurofound (2015), Veritas, Internal restructuring in Germany, factsheet number 78646, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78646.