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 confirmed on 13 November 2017, the light bulb manufacturer Ledvance will cut up to 1,300 of its 2,300 jobs in Germany due to internal restructuring. This includes the closure of its sites in Augsburg with 650 employees and Berlin with 220 employees by the end of 2018. Further, 400 jobs will be cut in Eichstätt, Wipperfürth and Garching by 2021.
Ladvance argues that such measurements are inevitable because the light bulb market will change within the next 8 year. The sale of traditional light bulbs, which are produced in Augsburg, is expected to decrease by 90%.
In March 2017, Ledvance was bought by a Chinese group.
Ledvance has 9,000 employees worldwide.
Eurofound (2017), Ledvance, Closure in Germany, factsheet number 92508, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/92508.