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.
The automotive supplier Samvardhana Motherson Innovative Autosystems (SMIA) will be cutting 100 jobs at its plant in Michelau due to internal restructuring. The restructuring programme has become inevitable mainly due to a reduction in orders as part of the diesel scandal. In order to be competitive in the future, SMIA will have to part ways with 100 of its 1,800 employees. Workers employed in production will not be affected. Management announced that cuts will be as socially acceptable as possible and that they will try to avoid compulsory redundancies. The reduction will mainly be achieved via early-retirement programmes, termination agreements and natural turnover. The company has yet to announce a timeframe.
Eurofound (2019), Samvardhana Motherson Innovative Autosystems, Internal restructuring in Germany, factsheet number 97762, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97762.