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 state owned federal railways company ÖBB (Österreichische Bundesbahnen) announced to invest €1.3 billion in infrastructure and staff by 2021. The company will be recruiting a total number of 11,500 new employees, 3,500 of which as apprentices, 2,700 drivers as well as 1,000 engine drivers. With this step the company is responding to an ageing work force, as it has been projected that by 2021 one out of three of its employees will be aged over 55 years old. With these hires the overall employment numbers will remain around 40,000 staff also in 2021 (last year 40,031 staff were employed by ÖBB).
In the last year ÖBB saw an overall increase in profit and passenger numbers. However, a weak economy and a low price level of diesel have caused a drop in turnovers inthe company's freight transport business unit. Future investments will predominantly be focussed on passenger transport, especially overnight trains to Italy.
Earlier in April, the company announced to increase its security staff by 115 new employees by the end of 2016, as costumer surveys report increasing feelings of insecurity of passengers regardless of actual persisting safety levels.
Eurofound (2016), Österreichische Bundesbahnen (ÖBB), Business expansion in Austria, factsheet number 87323, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87323.
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