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.
Draxlmaier Romania, a manufacturer of motor vehicle components and part of the German group Draxlmaier, has announced the collective dismissal of 800 people. The job cuts will be implemented in 2017 and will affect the plant in Pitesti, which is the oldest plant owned by the company in Romania. While the production is to be discontinued, the company intends to keep its employees in the engineering and IT development unit. The plant has a total employee base of 5,500.
According to the company management, the job reduction is due to the decrease of orders for products whose life cycle comes to an end and the decision of a major client in the automotive sector to move its production to Mexico.
The president of the National Trade Union (Bloc)/Blocul National Sindical announced that the union is committed to find solutions. These entail the provision of a support package, assistance to dismissed workers in finding alternative employment and financial compensation in accordance with the collective agreement. The affected employees will receive from 10 to 12 redundancy payments, depending on the seniority in the company.
In 2017, the Romanian subsidiary of the German company will invest about 150 million Euro in the expansion of the production units in Hunedoara and Brasov.
Draxlmaier is an international automotive supplier with a total workforce of around 55,000 people in 20 different countries.
Eurofound (2017), Draxlmaier Romania, Internal restructuring in Romania, factsheet number 90613, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90613.
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