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.
German technology provider Bosch will end its activities in the solar energy sector and close down its development site Bosch Solar CISTech in Brandenburg by the end of 2016. As a result of this measure 160 jobs will be cut. The company already announced to quit photovoltaic activities in March 2013. Since 2014, Bosch has been negotiating with several investors, however, none of the potential buyers was prepared to or capable of guaranteeing the continuation of the site and employment of the workforce (see also 03.2014). The executive board and employee representatives are currently negotiating the terms of restructuring. The management emphasises the importance of socially acceptable restructuring measures. Employees can opt for early retirement, severance payment or move to a transition company. Ten employees already found a new job within the company, other ten employees found a follow-on employment outside the company. Apprentices can move to another site and finish their apprenticeship.
These are the fifth job cuts since August 2015 (see 08.2015, 11.2015, 03.2016 and 04.2016).
Bosch, headquartered in Gerlingen (Baden-Wuerttemberg), currently employs around 375,000 staff worldwide. Over 130,000 employees work in Germany.
Eurofound (2016), Bosch, Closure in Germany, factsheet number 87623, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87623.
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