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.
Südösterreich; Steiermark; West- und Südsteiermark
Location of affected unit(s)
Deutschlandsberg
Sector
Manufacturing Manfacture for transport equipment Manufacture of motor vehicles, trailers and semi-trailers 29.3 - Manufacture of motor vehicle parts and accessories
200 jobs Number of planned job losses
Announcement Date
17 May 2025
Employment effect (start)
17 May 2025
Foreseen end date
31 May 2025
Description
Magna Powertrain, located in Lannach, district of Deutschlandsberg, Styria, has announced a restructuring plan involving the reduction of 200 positions due to the loss of key contracts, including the bankruptcy of Fisker.
The company reported the layoffs to the Public Employment Service (AMS), and affected staff were informed accordingly. AMS Styria confirmed that the majority of impacted employees are highly qualified and may find new opportunities quickly.
A labor foundation has been established to support further training where needed. Regional stakeholders, including political parties, have urged proactive measures to reduce dependency on the automotive sector and explore future-oriented industries.
Eurofound (2025), Magna Powertrain, Internal restructuring in Austria, factsheet number 202802, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202802.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
