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 18 March 2010, Siemens announced to cut around 2,000 jobs out of 9,700 jobs at its branche SIS (Siemens IT Solutions and Services) in Germany. Affected are the company's sites in Munich, Paderborn and Nuremberg/Erlangen. These cut backs are part of a restructuring-programme which includes 4,200 job losses worldwide (out of 35,000).
Already in December 2009, Siemens had announced its intention to split with SIS. The press reports the management's intention to sell SIS or to go public. With the current restructuring programme, Siemens seeks to create all the necessary prerequisites for such a step. Job cuts as well as further investments (another 500 million euros) are part of the restructuring scheme. Siemens is trying to realise job cuts in a socially acceptable manner, but enforced redundancies were not excluded by the company. Employee representatives, such as the German Metal Workers' Union or Siemens works' council, have criticised the company's plans.
Eurofound (2010), Siemens/SIS, Internal restructuring in Germany, factsheet number 70299, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70299.
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