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 3 May 2017, labelling system company Pago Etikettiersysteme, subsidiary of the Japanese Fuji-Seal International Group, announced to cut at least 120 jobs in Germany affecting the company's site in Aichtal-Aich. These job cuts form part of a new strategy for further specialisation. According to the management, the restructuring is necessary due to the difficult market environment, high price pressure and strong competition.
The final figure of job cuts is not yet confirmed but according to the company it will affect at least half of the 240 staff members in administration and production of its labelling system departments. The company's 75 mechanical engineering staff are however not affected.
Negotiations between the works’ council, the United Services Union, and management have already started.
Eurofound (2017), Pago Etikettiersysteme, Internal restructuring in Germany, factsheet number 90829, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90829.