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 15 March 2016, iron and steel foundry Friedrich-Wilhelms-Hütte announced to cut nearly 170 jobs in Germany by the end of 2016. The company wants to reduce 146 jobs in its steel casting section on top of another 21 office jobs. The management stated that job reduction became necessary as demand for its products was low and competition on wages high. Workers in the steel section have been subject to short-time work due to a shortfall in orders since May 2015. The company's steel casting department is expected to run a deficit in 2016.
Currently, the foundry employs around 600 employees. Management announced negotiations with the works’ council and the German Metalworkers’ Union, in order to negotiate a company agreement for the remaining employees (including wage cuts and a prolongation of weekly working time).
Eurofound (2016), Friedrich-Wilhelms-Huette, Internal restructuring in Germany, factsheet number 86816, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/86816.
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