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.
As announced on 6 June 2018, the engine block manufacturer Neue Halberg Guss (NHG) will be cutting 800 jobs due to internal restructuring by the end of 2019. This will include the closure of its plant in Leipzig with 600 employees. NHG hopes that it will be able to cut the remaining 200 jobs via natural fluctuation at its plant in Saarbrucken but will not exclude operational terminations. NHG-CEO Gerstung argues that the closure of the plant in Leipzig is inevitable due to market change which has resulted in fewer orders.
Negotiations regarding the closure and a social plan have started.
Currently, NHG has 2,100 employees at its plants in Leipzig and Saarbrucken.
Eurofound (2018), Neue Halberg Guss, Closure in Germany, factsheet number 94441, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94441.
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