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 2 February 2021, the German energy company Siemens Energy will be cutting 3,000 jobs due to internal restructuring in Germany until 2025. With the restructuring programme’s implementation, the company intends to strengthen its competitiveness and to focus more on renewable energy. Mainly affected will be the company’s gas and power department, with around 75 percent of the affected jobs being in areas of management, administration and sales. The management and employee representatives have only recently reached an agreement on the company’s restructuring, specifying among others the exclusion of compulsory redundancies. Furthermore, there will not by any plant closures. Negotiations regarding a social plan have yet to start.
The restructuring is part of a worldwide austerity programme with the intention of cutting 7,800 jobs. Siemens Energy has 91,000 employees worldwide.
Updated, 15/09/2021: As announced on 15 September 2021, after negotiations with employee representatives, Siemens Energy will only cut approximately 2,600 jobs in Germany. Affected sites include: Mühlheim an der Ruhr, Duisburg, Berlin, Erlangen, and Görlitz.
Eurofound (2021), Siemens Energy, Internal restructuring in Germany, factsheet number 103484, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/103484.
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