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.
On 11 September 2008, Stora Enso, a Finnish-Swedish pulp and paper manufacturer, announced that it is to cut 1,700 jobs, including a total of 600 jobs in Germany. The sites most heavily affected in Germany are Baienfurt in Baden-Württemberg where Stora wants to close a production plant resulting in the cut of 350 jobs and Hagen in North-Rhine Westphalia, where 170 jobs will be cut. There will be negotiations with the works councils concerned. As of September 2008, there is no information on when the job cuts will be implemented by. The company employs 44000 employees globally. The number of employees in Germany is not known.
Eurofound (2008), Stora Enso, Internal restructuring in Germany, factsheet number 67086, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67086.