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.
General Dynamics European Land Systems Steyr GmbH, based in Vienna, is expanding its military production due to increased national defence spending in Austria. The company is currently manufacturing 225 wheeled armoured vehicles for the Austrian Armed Forces as part of the "Build-Up Plan 2032". This order is set to increase annual production from 20 to 37 vehicles and expand the workforce from approximately 130 to between 280 and 300 employees. The contract ensures the continued employment of existing staff and the creation of significant new roles, despite current skills shortages. Social partners have praised the investment but stressed the importance of ongoing vocational training.
In March 2025, its Simmering facility has grown from 130 to nearly 250 employees, with further investments in infrastructure, including a new 7,500-square-metre assembly hall.
The Austrian defence industry is thriving, with Vienna’s firms expected to generate 40% of the sector’s projected €3.3 billion revenue in 2025, as noted by the Austrian Economic Chamber (WKÖ). In 2024, the company reported robust financial results in line with its expanded operations.
Eurofound (2025), General Dynamics European Land Systems Steyr, Internal restructuring in Austria, factsheet number 202530, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202530.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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