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.
Getrag's downsizing is a direct consequence of Volvo's massive notice (8 October 2008). The negotiations were over on 6 December and they concluded that the total number of redundant employees would be 210. However, 22 of them have already retired with contractual pensions, and 6 employees have quit voluntarily during the negotiations. All in all, that leaves 182 redundant employees who will lose their jobs. The company have not presented any measures to deal with these unemployments but the persons will probably register at the Public Employment Service and be helped to find new jobs. Getrag can not guarantee that there will not be any more restructuring measures because their production is dependent on e.g. Volvo.
The GETRAG Corporate Group develops and produces technical solutions for automobile manufacturers such as transmission systems and drivetrain components. GETRAG All Wheel Drive AB in Köping was founded as a Joint Venture company between GETRAG, Dana and Volvo Cars Corporation in 2004. The factory produces rear axles (RDUs), PTUs, manual transmissions and chassis parts.
Eurofound (2008), Getrag, Internal restructuring in Sweden, factsheet number 67238, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67238.
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