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.
Fronius, an Austrian manufacturing firm of welding machines, battery charging devices and photovoltaic systems, cut down 200 temporary jobs in July 2011. The growth numbers experienced in the first half of 2011 were not as high as forecasted by the company beginning of the year, after having extended production capacities in 2010. On the contrary, growth, especially in its core market Germany, has stagnated and demand has dwindled in 2011. In its Sattledt production site, work rosters have been already reduced from three to two and one shift(s). While in the business community, the redundancy of 200 temporary employees was communicated, the company's global manager for marketing, sales and services, Mr Schuster, has stated that this number is higher than the actual number of employees that became redundant as some of those 200 employees have been relocated from the photovoltaics division to the welding and battery charging divisons. According to the chairman of the company's works council, Mr Wolfsteiner, a company-based short-time work agreement was signed, granting employees affected by restructuring 90% of their salaries as income support.
Eurofound (2011), Fronius, Internal restructuring in Austria, factsheet number 72350, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72350.
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