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.
On 15 May, Swedish ferry company Stena Line announced its plans to reduce its workforce by 400 staff by the end of 2013. The job cuts will be carried out across Europe, concerning around half of the company’s administrative staff as well as staff in ports, currently around 800 employees. While information on which company sites will be affected has yet to be published, 40 job cuts are likely to be carried out in Kiel, Germany.
According to the company, these job reduction measures have become necessary due to the current economic climate as well as tighter environmental standards to be implemented by 2015.
The company is one of the world’s largest ferry operators operating across nine European countries
Eurofound (2013), Stena Line, Internal restructuring in European Union, factsheet number 75431, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75431.
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