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 26 September 2014, casting house ACO Passavant Guss announced to shut down its foundry in Aarbergen. Between 90 and 120 employees will lose their jobs due to this closure. In Aarbergen, ACO Passavant Guss employs around 260 people in total. Details of the job reduction are to be negotiated between works council and management, topics include the setting up of a social plan.
The location in Aarbergen shall be maintained, but in the future ACO will buy in castings from external production. The date of the closure is not specified yet.
Eurofound (2014), ACO Passavant Guss, Outsourcing in Germany, factsheet number 77722, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77722.
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