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 8 March 2017, asset management company Aurelius announced to relocate their subsidy Reuss-Seifert from Germany to Poland. This measure will affect about 194 employees. Almost all parts of the construction supply company will be affected including production, warehousing and the administration. Only about 20 administration and sales jobs will remain at the current site in Germany. Relocation will start shortly and is to be completed by 2018.
Management explained that the relocation had become necessary due to missed investments and criticised the previous owner CRH for their approach (in 2016 Reuss-Seifert was taken over by Aurelius).
The management, the works’ council and the Mining, Chemicals and Energy Industrial Union already negotiated a social plan. The company's subsidiary Hammerl will not be affected and will remain in Germany.
Eurofound (2017), Reuss-Seifert, Relocation in Germany, factsheet number 90529, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90529.
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