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.
The European Aeronautic Defence and Space Company (EADS) has announced to its European Works Council a restructuring plan envisaging the reduction of up to 5,800 positions by the end of 2016.
The restructuring will affect the corporate headquarters (approx. 500 positions) and also the new Airbus Defence and Space Division to be established at the beginning of 2014, after the consolidation of the group’s defense and space units based in Germany, France, Spain and the UK. Airbus DS will consist of three entities: Airbus Military, Astrium and Cassidian.
As reported, the job reduction plan will be implemented through the non-renewal of temporary contracts (approx. 1,300) and voluntary measures, the achievement of which will determine the final number of the forced layoffs (according to estimations 1,000-1,450).
With a view to mitigating the social impact of the plan, 1,500 employees will be offered redeployment to Airbus and Eurocopter. Additionally, the company has announced its intention to negotiate with its works council potential labour cost reduction measures to avoid part of the redundancies.
As announced, EADS aims at improving its competitiveness in the defense and space market in a contex of reduction of military budget in its traditional markets. According to media reports, the first job cuts will take place in mid-2014 by the end of the information and consultation process.
Eurofound (2013), European Aeronautic Defence and Space Company (EADS), Internal restructuring in European Union, factsheet number 76317, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76317.
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