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.
Regional energy supplier Wien Energie, part of the city-owned Wiener Stadtwerke Holding AG, announced it will restructure its distribution and marketing division, which will affect an estimated 150 employees.
Job reductions are in line the overall Wiener Stadtwerke cost-saving strategy, which aims to scale back its 16.100 headed staff by 850 to 900 members across several holdings by October 2018. Wien Energie recently hired a new sales director who is tasked with implementing cost-efficient business structures by the start of September 2017. Media sources suggest that jobs will be reduced through means of early retirement and natural attrition.
Currently, Wien Energie employs about 2537 staff members. Reportedly, by June 2017, over 100 employees have already gone into early retirement.
Eurofound (2017), Wien Energie, Internal restructuring in Austria, factsheet number 91458, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91458.
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