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 13 October 2016, logistics company Also Logistics Services announced to close its site in Augsburg on 31 March 2017. Therefore, 280 jobs will be cut.
Also Logistics Services took over the logistics processing from the retail chain Weltbild after Weltbild had filed for insolvency in 2014 (Weltbild, 2014). In October 2015, Also Logistics Services filed for insolvency too. After May 2017, processing services will move on to the Andreas Schmidt-Logistics company in the Czech Republic.
The works' council achieved that employees will stay at their jobs until the plant closes in March 2017. The employees will also receive severance pay but it will be just paid out after a complete account of the whole company took place. Employees also have the possibility to switch to a transfer company in place until the end of 2017. Andreas Schmidt also offered a possibility for a few employees to change to their company.
Eurofound (2016), Also Logistics Services, Bankruptcy in Germany, factsheet number 89006, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89006.