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 German automotive parts manufacturer Mahle will be cutting 380 jobs at its plan in Stuttgart due to internal restructuring in 2020. According to management, cuts are necessary in order to counteract negative effects from last year. Despite quadrupling its profit in 2018, Mahle’s sales decreased by 1.6% and the company expects worldwide uncertainties in 2019, such as ongoing trade conflicts, to further strain the company’s economic situation. The job reduction will by as socially acceptable as possible and will be mainly accomplished by part-time retirement programmes and termination agreements. Negotiations with employees will start immediately and will take place throughout 2019.
Currently Mahle has 4,300 employees in Stuttgart and 13,200 in Germany.
Eurofound (2019), Mahle, Internal restructuring in Germany, factsheet number 97759, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97759.