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.
Mayr-Melnhof, manufacturer of folding boxes and cardboard, announced the closure of its production in Gunskirchen, Upper Austria, by the end of this year, leading to 100 job losses.
For many the step comes as a surprise as Mayr-Melnhof announced a record level of profits and increase in sales only in March 2015. Production and machinery will be relocated to Vienna by the end of 2015. A quarter of the 135 employees have been offered to be transferred to Vienna. Negotiations on a social plan for affected employees have already started.
The production site was run as family-owned business since 1969 until Mayr-Melnhof took over the company in 2006. Despite continued restructuring the production site is not operating profitably, says a company spokesperson.
Eurofound (2015), Mayr-Melnhof, Closure in Austria, factsheet number 83604, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83604.