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 14 June 2012, a multinational company Nokia will cut 730 jobs in Germany. The decision is due to severely decreasing sales.
Nokia's market share decreased from 40 percent in 2007 to 20 percent in 2012. In Germany, job cuts affect Nokia's research center in Ulm, which currently employs 730 people. Nokia runs another site in Berlin, employing 600 people, but no reduction plans have been announced for this location thus far.
Global Nokia employment sums up to 53,500, without Nokia Siemens Networks employees, which had been affected by earlier job reductions. Worldwide, the company plans to cut additional 10,000 jobs.
The restructuring plan for Germany is to be implemented by the end of 2013.
Eurofound (2012), Nokia, Internal restructuring in Germany, factsheet number 73748, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73748.
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