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.
Electronics and electrical engineering company Siemens has announced plans to cut up to 3,000 jobs globally in its industry business. As announced, most of the job cuts will take place in Germany, with the closure of two mechanical drives factories (500 jobs) and the delocalisation of about 200 jobs to the Czech Republic. Additionally, around 500 administrative and 1,700 sales jobs will be lost. Other jobs will be lost in India (140) and Pakistan (170). With this restructuring plan, Siemens wants to save 6 billion euros. The company faces a falling demand for its products and a diminishing return on sales.
Eurofound (2013), Siemens Industry Sector, Internal restructuring in World, factsheet number 75227, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75227.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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