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 10 November 2020, the Finnish steel group Outokumpu will be cutting 250 jobs in Germany in 2021 due to internal restructuring. This is part of a larger restructuring programme, which intends to cut 1,000 jobs worldwide in 2021. Among others, affected sites in Germany include Dillenburg with 75 job cuts and Krefeld with 106 job cuts. Other sites which might be affected are Dahlerbrück, Hockenheim and Sachsenheim. The company does not intend to assume the recently negotiated collective bargaining agreement for the steel sector, making operational terminations a real possibility. Furthermore, all apprentices have been informed that they will not be taken over by the company after they finish their apprenticeship. IG Metal and works council will start negotiations regarding a social plan immediately.
Outokumpu has 10,000 employees worldwide.
Updated, 22/12/2020
As confirmed on 22 December 2020 in a press release by Outokumpu, the steel company has reduced the number of job cuts in Germany from 250 to 230. Outokumpu intends to finish the job reduction by the end of 2021. Further information on the distribution of job cuts is not yet available.
Eurofound (2020), Outokumpu , Internal restructuring in Germany, factsheet number 102550, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102550.
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