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.
Thyssen-Krupp System Engineering, the German subsidiary of ThyssenKrupp, a steel manufacturer of motor engine testing machinery, is reducing 640 positions in Germany. The company is affected by the current market difficulties, transformation of the car industry and the shift to e-mobility. In November 2019 the company's management announced the intention to cut a total of 640 positions at its eight manufacturing plants in Germany. The plant in Bremen will be most affected - 300 out of current 788 jobs shall be shed. Another 80 jobs will be cut at Langenhagen in Lower-Saxony. There is no information which other units will be affected by the decision and what is the timeline of the redundancies.
Currently, the works councils and the management are negotiating redundancy plans and possibilities of lowering the number of job cuts.
The Thyssen-Krupp's management has revealed that the company also plans to create 100 new positions for matching the new digital and e-mobility trends.
Eurofound (2019), Thyssen-Krupp System Engineering , Internal restructuring in Germany, factsheet number 99457, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99457.