THÜRINGIA / LONDON (IT BOLTWISE) – The closure of the AE Group in Thuringia presents 700 employees with new challenges. Despite the auto supplier’s insolvency, there is hope for new perspectives through a job exchange and a comprehensive social plan. The community supports the initiative to make the transition easier for those affected.
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The AE Group, a major auto supplier in Thuringia, is facing closure, leaving 700 employees facing an uncertain future. The company, which specializes in the production of aluminum die-cast parts, was declared bankrupt under self-administration in the summer of 2024. The aim was to achieve restructuring through new investors, but the difficult conditions in the automotive industry, such as international uncertainties and high raw material and energy costs, ultimately led to the failure of these efforts.
To make the transition easier for the affected employees, a job fair was organized and supported by the community. Mayor Daniel Steffan (CDU) was optimistic because the demand from companies was greater than the available space. The community plans to make the community hall available for a second job fair at the beginning of the year in order to offer as many employees as possible a new perspective.
A comprehensive social plan was drawn up, which is considered exceptional for a regular insolvency. This includes around 17 million euros, financed by main customers who need full production by the end of the year. The measures include retention bonuses for employees who work until the end of the year and signing bonuses for weekend work. A processing team of around 80 employees will remain employed until the end of March.
A central component of the social plan is the establishment of a transfer company that will offer training and support in finding a job for six months starting in January. More than 90 percent of employees have chosen this route, which allows them a transition period at 80 percent of their net salary without having to work. Despite these measures, the feeling of defeat remains because jobs could not be saved, as Leif Gentzel from IG Metall emphasizes.
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