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.
On 20th November the telecommunications provider Freenet announced to cut 1,000 jobs. Freenet stated that it will close down the headquarters of its affiliate Talkline in Elmshorn where 650 people are currently employed. Out of these 650 employees 160 will be offered a job at another Freenet site in Büdelsdorf. The remaining 490 jobs will be cut.
At Stuttgart, all divisions apart of the financial division will be closed and 300 jobs will be lost. Further job cuts (210) will affect other locations as well as field services.
The newly announced restructuring programme follows the acquisition of Freenet’s former competitor debitel in February 2008. No further information has been released as to when these cuts will occur. Freenet currently employs 7,700 staff all over Germany.
Eurofound (2008), Freenet, Internal restructuring in Germany, factsheet number 67443, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67443.
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