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 December 4, 2012 pharmaceutical company AstraZeneca will cut 400 jobs in Germany. This is due to decreasing sales. Job redundancies include back office workers and sales representatives.
Forced redundancies are to be avoided and job cuts shall be realised by early retirement and voluntary separation.
AstraZeneca suffers from expiring patent protections and therefore reduced prices induced by competition. In total, the company employs 1,025 people in Germany.
Eurofound (2012), AstraZeneca, Internal restructuring in Germany, factsheet number 74636, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74636.