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. January 2020, the German factory Gußwerke Leipzig, a leading manufacturer of cast crankshafts and cylinder crankcases for the automotive industry, will cut approximately 100 jobs due to internal restructuring. The company announced insolvency in October 2019 and is still looking for a new investor. The job reduction is necessary, as sales have fallen and this is considered the only option to secure the remaining 400 jobs. The German Metalworkers’ Union (IG Metall) regretfully accepts the job loss but is optimistic about the company’s long-term future.
Gußwerke Leipzig has approximately 500 employees.
Eurofound (2020), Gußwerke Leipzig, Internal restructuring in Germany, factsheet number 100336, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100336.