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.
Engineering and construction company Siemens VAI is to shed up to 400 jobs by the end of 2013. Every 6th to 7th employee of the core workforce (which corresponds to 250 employees) plus at least half of the 260 temporary agency workers stand to lose their jobs due to a decrease in demand.
The workforce was informed about the restructuring at the works council meeting on 21 May. The extent of the restructuring programme came as a surprise to them. A social plan is to be worked upon and finalised within three weeks.
The company was powerfully hit by the financial and economic crisis in 2009; it has since then recovered, but only to deteriorate within the last few months. This development has not allowed the company to decouple itself from the group-wide cost savings programme.
Updated, 15-07-2013 Only 175 instead of 250 employees of the core workforce stand to lose their jobs, according to new information by Die Presse. No information on the situation of temporary agency personnel given.
Eurofound (2013), Siemens VAI Metals Technologies, Internal restructuring in Austria, factsheet number 75413, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75413.
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