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.
E.G.O., a German home appliance supplier, will cut 270 jobs at its headquarter in Oberderdingen. The company has already signed a contract with its works council to secure its headquarters by investing a minimum of €36 million within the duration of the contract. Even though the company will invest in new technologies, job cuts will still occur at the site but according to the management dismissals due to operational reasons are to be avoided. Among others, the production of pipe and tubular heating elements, as well as the mixing department for hot plates will be closed by the end of 2016. The punching centre will shut down by the end of 2017.
As part of the restructuring measures the executive board the works council have negotiated a new contract for the remaining 1,750 employees. The contract includes two more working hours per week and moreover 25% of Christmas and holiday bonuses will be cut. The management hopes to secure the company's future in the medium term with these measures.
E.G.O. currently employs 1,800 staff at its headquarter in Oberderdingen and 5,900 employees worldwide.
Eurofound (2015), E.G.O., Internal restructuring in Germany, factsheet number 86011, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86011.
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