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 carmakers Daimler, has announced a plan to cut at least 10,000 job worldwide by the end of 2022. The number of job cuts could be higher as the personnel chief told to journalists that ‘the total number worldwide will be in the five-digits'. On 14 November, Mercedes-Benz, owned by Daimler, already announced a plan to save €1 billion in staff costs in Germany, and unions suggested 1,100 jobs could be cut.
Daimler restructuring is a response to the disruption caused by the automotive industry shift from combustion to electric engines. The carmaker has to invest considerable resources in battery electric cars to meet EU regulations coming into force in January that will impose fines on carmakers which do not reduce average carbon dioxide emissions below 95g per kilometre. To reduce its staff, Daimler will use 'natural fluctuation', as well as offer 'part-time retirement' and a severance programme in Germany, to reduce the number of administrative staff. A jobs guarantee valid until 2029 covers production line workers, therefore these jobs are not included in the figures.
Update 10/02/2020 : Daimler has increased the number of job cuts to 15,000. Dismissals should take the form of severance payments, early retirement and partial retirement.
Eurofound (2019), Daimler, Internal restructuring in World, factsheet number 99295, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99295.
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