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.
MAN's automotive manufacturing factory in Steyr (Upper Austria) has announced the redundancy of 260 employees.
The background of the dismissals are precautionary measures to cut down costs to ensure MAN's existence in the future. In addition to the truck order production for MAN coming to an end at the end of September, there were also battery delivery problems, leading to tension.
The factory was purchased by investor Sigfrid Wolf in May 2023. In light of the changes and precautionary measures, 260 people have been registered for termination via the Public Employment Service's early warning system, and a further 100 temporary workers could also be affected in the future. Overall, the workforce will have to be reduced from 2600 people to 1400 in the longer term. At the moment there is still internal redeployment and some employees are taking educational leave.
Eurofound (2023), MAN, Internal restructuring in Austria, factsheet number 200373, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200373.
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