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.
The Austrian aircraft supplier FACC, with headquarters in Upper Austria, has announced plans to create 250 new jobs. Over recent years the company has managed to constantly increase its turnover, although a cyber attack in 2015 has reduced its overall profit. In this context the Chinese owner Xian has dismissed the FACC CEO two month ago. Currently, approximately 20 new employees are hired each week for the FACC production site in Upper Austria, by the end of August 2016 staff should have increased by 250.
The ERM previously reported on restructuring events at FACC in 2007, 2008, 2010, 2011 and 2014. The company currently employs around 3,000 members of staff.
Eurofound (2016), FACC, Business expansion in Austria, factsheet number 88144, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88144.