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.
German IT and telecommunication services provider QSC will cut 350 out of 1,700 jobs in Cologne within the next two years. The job reduction is due to the company’s weak performance over the past years. Detailed information on which departments will be affected and how the job reduction will be implmented has yet to be announced.
In 2012, QSC bought two companies which increased the number of employees from 350 to 1,700. The company had plans to increase revenue to €1 billion by 2016. By 2014 however, QSC only achieved a total turnover of €430 million. With the job reduction, the company intends to save €10 million this year and €25 million each year starting from 2017.
Eurofound (2015), QSC, Internal restructuring in Germany, factsheet number 78645, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78645.
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