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.
The drive technology manufacturer ABM Greiffenberger GmbH has announced that it is to cut 100 jobs in Marktredwitz (Bavaria).
The company explained the reason for the job cuts to be overstaffing, which means that costs are too high compared to competitors. Information on which jobs are affected and by when the job cuts are to be implemented is not yet known. The job cuts are to be implemented through redundancy schemes.
The trade union IG Metall has criticised the announced job cuts and is calling for more orders to be brought in instead of laying off employees to bring staff capacity and the order situation together.
In 2016, 120 jobs were already cut as part of restructuring measuresABM Greiffenberger-2016-DE.
Eurofound (2024), ABM Greiffenberger Antriebstechnik, Internal restructuring in Germany, factsheet number 201464, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/201464.
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