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.
Sauer-Danfoss, manufacturer of engineered hydraulic, electric and electronic systems and components, has announced that it is to cut 190 jobs by the end of the year. 153 job losses will be achieved through direct dismissals and the remainder 37 through natural decline (retirement). The company attributes the decision to cut the jobs to the recent economic downturn. Most of redundant workers belong to the 3F union, whose representatives are optimistic as to finding new jobs for the union members affected by the restructuring. The unemployment rate in the region is only 2%, but it should be taken into consideration that the mother company, Danfoss in Nordborg, is also in the process of dismissing 350 employees.
As reported, Denmark has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2008), Sauer-Danfoss, Internal restructuring in Denmark, factsheet number 67300, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67300.
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