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 18 November 2016, Volkswagen, Europe's largest car producer announced to cut up to 30,000 jobs worldwide until 2025. Out of these jobs, up to 23,000 jobs will be lost in Germany. The affected sites are Emden, Wolfsburg, Hanover, Salzgitter, Braunschweig, Kassel, Zwickau, Dresden and Chemnitz. International job cuts will affect Volkswagen's sites in North and South America.
Volkswagen made clear that there will not be any direct dismissals. The company plans to reduce their staff through partial and early retirement. In addition, the number of temporary workers will be reduced. Volkswagen and their works council negotiated an agreement ruling out compulsory redundancies at least until 2025.
Furthermore, Volkswagen offers up-skilling due to plans to strengthen the production of electric mobility. The restructuring also includes the creation of up to 9,000 new job in this promising field. According to the management, these jobs will be filled mainly with internal personnel.
Volkswagen struggled with low profits in the last years and even more since their emissions test scandal. The company wants to reduce their number of models and equipment variants.
Already in March 2016, Volkswagen announced a cut of up to 3,000 jobs in Germany, see (Volkswagen 2016). At the moment, it is not clear if the 3,000 job cuts are additional or included in the number above.
Eurofound (2016), Volkswagen, Internal restructuring in Germany, factsheet number 89125, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/89125.
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