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.
The car manufacturer Opel, which is part of the French automotive group 'Groupe PSA', has announced to cut up to 400 jobs at its site in Apsern (Vienna) by the end of 2019. Already in 2018, 140 employees were made redundant because of expiring contracts and a reduction in production. The company argues that restructuring is necessary because the site does no longer produce a gearbox for its former owner General Motors. Management offered so-called generous packages to employees who are willing to leave the company voluntarily.
Employees have already accepted a two per cent cut in wages twice in an effort to secure production at the site. The works council criticises management for not keeping the promises made to the staff. Negotiations for a social plan are currently under way and almost completed. Affected employees can apply for a work fund ('Arbeitsstiftung') already created in 2018, which is financed by Opel, the public employment service as well as the city of Vienna.
Eurofound (2019), Opel Austria, Merger/Acquisition in Austria, factsheet number 97506, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97506.
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