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 Continental is to cut 200 out of 1,400 jobs at its plant in Limbach-Oberfrohna between mid-2015 and 2017. Job reduction is due to Volkswagen having recently canceled a large order.
Management and works council have already negotiated a social plan and the job reduction shall be implemented in a socially acceptable manner. According to a spokesperson, natural fluctuation and changing to part-time jobs shall help to implement the measure. The number of operational dismissals is not yet clear.
Continental is one of the biggest automotive suppliers worldwide currently employing around 190,000 people in 53 countries. Since 2010, the German branch has been subject to frequent restructuring (see Continental-2010, Continental-2013) but also job creation (see Continental-2011, Continental-2012).
Eurofound (2015), Continental, Internal restructuring in Germany, factsheet number 78748, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78748.