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 multinational steel company ThyssenKrupp announced an austerity programme which includes at least 330 job cuts within the next three years in Germany.
On 7 April 2017, the chairman of the general works’ council announced that the sites in Duisburg-Hüttenheim and Bochum will be closed and therefore 330 jobs will be cut.
On 13 April 2017, ThyssenKrupp announced an austerity programme worth €500 million which will be partly implemented by a reduction in personnel costs. German Metalworkers’ Union assumes that up to 4,000 jobs could be affected. The company confirmed the 330 job cuts as well as the closing of plant sections but did not specify any further figure. Compulsory redundancies are ruled out until 2020 due to former negotiations.
ThyssenKrupp employs 26,000 staff members worldwide but mainly operates in North Rhine Westphalia with a total of 22,000 employees.
Eurofound (2017), ThyssenKrupp, Closure in Germany, factsheet number 90737, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90737.
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