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.
As announced on 28 October 2020, the German automotive supplier Läpple will be cutting 300 of its 2,500 jobs in Germany due to internal restructuring. Läpple, like other automotive suppliers, has been hit hard by the COVID-19 crisis and is expecting a drop in sales by 25% for 2020. Consequently, short time working arrangements and working time accounts have become insufficient to secure the company’s future, making cuts inevitable. Management and works council will start negotiations shortly to discuss a voluntary severance payment programme and the timeframe of the job reduction. Management intends to avoid compulsory redundancies.
Läpple has 2,700 employees worldwide.
Eurofound (2020), Läpple, Internal restructuring in Germany, factsheet number 102222, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/102222.