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.
Wire manufacturer Berkenhoff announced to cut 62 jobs by the end of 2017. The affected sites are Merkenbach with 31 job cuts and Kinzenbach also with 31 job cuts. The job cuts are a consequence of an internal restructuring after the takeover by Chinese Powerway Group in August 2015. The production of certain materials will be offshored to China.
After one year of negotiations, the works' council, German Metalworkers Union (IG Metall), and the new management negotiated a reconciliation of interests. For 59 out of the 62 jobs cuts there will be a solution like voluntary redundancies, internal redeployment and partial retirement. There will be only 3 direct dismissals.
The company announced that there may be a second phase with 33 job cuts by the end of 2018.
Berkenhoff currently employs 294 people at their site at Merkenbach and 180 employees at Kinzenbach.
Eurofound (2016), Berkenhoff, Merger/Acquisition in Germany, factsheet number 89033, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89033.
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