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.
On 23 November 2015, Vaillant, the second largest company in the heating, ventilation and air conditioning sector in Europe, announced its plans to close its plant in Gelsenkirchen. The closure will involve 200 dismissals and will be affected by the end of 2018. According to the company these job cuts have become necessary due to internal restructuring with the company trying to save costs and relocate its production to the company's headquarters in Remscheid where Vaillant plans to invest more resources in R&D.
The Vaillant Group currently employs around 12,000 employees worldwide.
Eurofound (2015), Vaillant, Relocation in Germany, factsheet number 86089, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86089.