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.
Mubea Carbo Tech, Austrian business unit of the German automotive supplier Mubea, set out plans to cut 220 jobs by mid-2015. The job reduction will take place at the company's site in Salzburg.
Mubea Carbo Tech is considered as a pioneer in the area of carbon fibre reinforced components used in the automotive industry and in motor racing. The company currently employs 612 people. The company's CEO indicated that the cuts were necessary due to expiring contracts with Porsche and VW. New orders were acquired resulting in the reduction of planed job cuts from 300 to 220 employees. However, new orders cannot completely make up for the lost bid. A total of 120 employees and 100 temporary contract workers will be registered with the public employment service as of the end of March. The planned downsizing should be completed by the middle of the year, with first dismissals starting in May. These cost-cutting measures form part of an internal restructuring plan to secure the future of the company.
Fluctuations in projects and orders is a common feature in the automotive supplier industry. The job reductions therefore do not come as a surprise to the local works council which is in consultation with representatives of the company to discuss further steps. There are no detailed plans yet, however, the company indicated that special support for cases of hardship will be made available.
Update 24-03-2015
Staff numbers affected by ongoing downsizing at Mubea Carbo Tech will be slightly lower than announced earlier this year. As for the time being, 200 people will lose their job (106 staff of the regular work force as well as 94 temporary workers). An agreement has been reached with the local works council which includes a financial compensation of employees and support with finding a new job.
Eurofound (2015), Mubea Carbo Tech, Internal restructuring in Austria, factsheet number 78677, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78677.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
