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 9 November 2016, the German automotive supplier Schaeffler announced tthe closure of its site at Elfershausen. The company announced to relocate their production to its other site in Schweinfurt and abroad. The closing will affect between 270 and 280 jobs. These measures will be implemented by the end of 2017. The site in Elfershausen produced deep groove ball bearings, angular ball bearings and strut bearings.
Furthermore, Schaeffler announced on the same day to cut 500 jobs in Europe and America. These job cuts will take place in administration. The company didn't clarify if the German closure is additional or part of the 500 job cuts to be made worldwide.
Schaeffler already cut 500 job in 2015, see (Schaeffler, 2015) and further 900 jobs, which were implemented between 2013 and 2016, see (Schaeffler, 2013).
Update:
On 10 February 2017, the management and the works’ council of Schaeffler have reached an agreement regarding the closure of the company's site in Elfershausen. Schaeffler will create 180 new jobs at the site in Schweinfurt and offer these positions to the affected employees from the Elfershausen site. Furthermore, the employees will be compensated for additional costs like travelling in case they accept the new offer. Otherwise there will be further socially responsible measures for the termination of employment to avoid compulsory redundancies. The site in Elfershausen will be closed by the end of 2017 where at the moment 265 employees are working.
Eurofound (2016), Schaeffler, Relocation in Germany, factsheet number 89089, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/89089.
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