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.
Energie AG Oberoesterreich, the largest energy provider in the province of Upper Austria, is to shed 120 jobs between October 2010 and September 2012.
The infrastructure, water and waste management group of which the state of Upper Austria holds a majority share, issued a press release on 12 April 2010 stating it will offer 120 of its 5000 employees a gradual retirement scheme. This offer refers to women over 51 and men over 56 years of age.
During the gradual retirement phase, the affected workers will not be allowed to access public funds and will have to pay their social insurance contributions themselves. In return, they receive 79.5% or 69.5% of their last gross income, depending on the type of gradual pension plan chosen. They can opt to work minimally outside of Energie AG which means that they can earn up to a threshold of €366.33 a month.
Energie AG states that the reasons for this restructuring measure are changing economic and operational conditions.
Eurofound (2010), Energie AG Oberösterreich, Internal restructuring in Austria, factsheet number 70479, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70479.
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