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 22 July 2020, the engine manufacturer MAN Energy Solutions plans to cut approximately 3,000 jobs in Germany due to internal restructuring. MAN management has implemented a restructuring programme with the intention to secure the company’s long-term future, as the company expects mid-term sales drop due to the COVID-19 crisis. MAN is planning to reduce costs by €450 million and sustainably secure the company’s operative profits until 2023.
3,000 jobs are affected in Germany; up to 1,800 jobs cuts will be carried out in Augsburg, which corresponds to around 40% of the positions at the plant. An additional 950 jobs will be cut in the rest of the world. Negotiations with the works’ council have already started and while management plans to make cuts as socially acceptable as possible, compulsory terminations will not be exempted.
Currently, MAN has 14,000 employees worldwide.
Updated, 9/12/2020:
As announced on 9 December 2020, MAN will only be cutting 1,650 jobs in Germany. Management and works’ council agreed on a social plan. Affected locations are Augsburg, Berlin, Hamburg, Oberhausen and Deggendorf. The jobs reduction will mainly be achieved via natural fluctuation, part-time retirement programmes and voluntary programmes. All affected employees will have access to a transfer company which will help them to quickly reintegrate on the German job market.
Eurofound (2020), MAN Energy Solutions, Internal restructuring in Germany, factsheet number 101342, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101342.
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