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.
French car manufacturer Peugeot will cut 150 jobs in Germany by the end of 2015.
According to a company spokesperson, this is due to the fact that the company currently suffers from an imbalance in sales and the number of employees in Germany. The reduction will mainly affect sales representatives as well as employment at its headquarters in Köln-Gremberghoven.
Peugeot suffers from weak European markets for its products and has been generating losses for several years. The restructuring plan will help to reduce costs.
Peugeot belongs to the PSA Peugeot Citroën group which currently employs more than 200,000 people.
Eurofound (2015), Peugeot, Internal restructuring in Germany, factsheet number 78771, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78771.