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 4 April 2017, lighting manufacturer Osram announced to cut between 250 and 290 jobs within the next two years. Mainly affected will be the company's subsidiary Siteco Beleuchtungstechnik in Traunreut, Bavaria.
The job reduction measures will affect administration and production units in Traunreut due to increased competition as production of lights is shifting from traditional light bulbs to LED lights requiring less personnel.
Osram announced also to create up to 1,000 new jobs within the LED sector in Germany, see (Osram 2017). Applications of currently affected employees will receive preferential treatment. Osram announced to carry out the job cuts as socially acceptable as possible.
Siteco currently employs about 800 in Traunreut and 1,100 employees worldwide. Osram employs some 25,700 employees worldwide.
Eurofound (2017), Siteco, Internal restructuring in Germany, factsheet number 90733, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90733.
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