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.
Kamax, German manufacturer of connecting elements for the automotive industry, announced plans to cut 200 jobs at its sites in Alsfeld and Homberg by the end of 2020. In the course of this year, 80 jobs will already be cut. According to the management, redundancies have become necessary as the company wants to become more competitive. The company is currently suffering from declining orders and requires an improvement of its cost structure.
Executive board and employee representatives are currently negotiating the terms of the restructuring. Both parties want to ensure the long-term preservation of the production sites.
Despite the job cuts, Kamax will expand development activities and apprenticeships in Homberg to strengthen the market position in the area of the technically challenging connecting elements. Kamax, headquartered in Homburg (Ohm), currently employs 3,400 employees worldwide.
Eurofound (2016), Kamax, Internal restructuring in Germany, factsheet number 87301, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87301.