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.
Austrian automotive manufacturer Magna Steyr set out plans to hire 3,000 new employees in the upcoming two years. Plans are part of a business expansion due to new contracts with BMW and Jaguar Land Rover, as Eurofound has previously reported (EF Magna Steyr 2015). Magna Steyr is also investing half €0.5 billion in expanding its production site to be able to meet growing demands. Additionally, it has also set up a new apprenticeship workshop (Lehrwerkstatt ) and a company kindergarten for employees (Betriebskindergarten).
Update 29-09-2016:
Magna has established a close cooperation with the public employment service (AMS) to train unemployed people to be prepared for working at Magna. Starting in 2015, the first phase of training 212 mechatronics engineers has already been completed. The second phase will encompass the recruitment and short-time training of 1,100 production workers.
Eurofound (2016), Magna Steyr, Business expansion in Austria, factsheet number 87522, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87522.
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