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 31 August 2017, the German market research institute GfK confirmed a major internal restructuring that will result in the loss of approximately 500 employees. GfK wants to decrease its costs in Germany by 20% and aims to save €200 million in the next 2 years. GfK intends to use the site in Nuremberg with 1,800 employees as its headquarters. The future of the sites in Munich, Berlin, Hamburg and Frankfurt are uncertain since GfK plans to maintain only one site per country.
The works council was informed on 31 August 2017. Negotiations regarding a social plan will start a week later.
GfK has 2,300 employees in Germany and 13,200 worldwide.
Update 13/04/18: As recently announced, GfK will be closing 16 of its 23 sites in Germany (Hamburg, Berlin, Frankfurt and Munich will not be closed). Furthermore, GfK will cut 400 jobs at its site in Nuremberg and an additional 200 jobs throughout Germany.
Eurofound (2017), GfK, Internal restructuring in Germany, factsheet number 91851, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91851.
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