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 27 February 2017, German shipyard Lloyd Werft announced to cut 117 jobs in Bremerhaven. All departments will be affected by these job cuts.
The shipyard is struggling due to a low demand in the ship industry. Lloyd Werft is a subsidiary of the Malaysian Genting-Group. The Group also holds other shipyards in Germany and moving forward wants to concentrate on the construction of cruise ships at their Baltic coast sites. In 2017, the Genting subsidiary MV Werften announced to create 200 jobs (MV Werften, 2017).
About 260 well-trained staff will remain in Bremerhaven. The management already negotiated a social plan with the works’ council. The affected employees will switch to a transfer agency for further qualifications. Furthermore, the affected employees will receive preferential treatment in case of an application at other Genting shipyards. According to the works’ council, the number of job cuts decreased from initially 150 to 117 during negotiation.
At the moment about 400 employees are working at the Lloyd Werft in Bremen.
Eurofound (2017), Lloyd Werft, Internal restructuring in Germany, factsheet number 90488, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90488.
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