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 5 December 2008, the producer of automotive components Rheinmetall announced to cut 250 jobs at its German sites. The job cuts are part of a restructuring programme set up to reduce operation costs by € 50 million. Job cuts are to be implemented by the beginning of 2010. Hit by the financial crisis and a drop in orders, the company additionally prolonged its company holidays over Christmas. Furthermore, reduced hours will be worked at its production sites in the first half-year of 2009. Rheinmetall currently employs 11,800 staff.
Eurofound (2008), Rheinmetall, Internal restructuring in Germany, factsheet number 67613, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67613.
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