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.
German software developer SAP will cut 3,300 jobs worldwide, according to a company announcement on 28 January 2009. Out of these, 640 jobs will be cut in Germany. The job losses, which are to save EUR 300 to 350 million, will be implemented from 2010. As of January 2009, there is no precise information on where the jobs will be cut. Job cuts will be implemented through natural wastage and socially acceptable measures, SAP said. According to works council information released on 18 Febuary, SAP does not exclude direct dismissals.
It is SAP's first job cut since 1988. Currently, the company employs a global workforce of 51,800. SAP's profits in 2008 exceeded the expectations of analysts, but SAP says the company is reconsidering all variable costs to meet the challenges posed by the economic crisis.
Eurofound (2009), SAP, Internal restructuring in World, factsheet number 67964, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67964.
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