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.
ThyssenKrupp, the German industrial group, announced a plan to cut between 2,000 and 2,500 administrative jobs worldwide by September 2020. About half of the job cuts will affect Germany where the group plans to cut between 1,000 and 1,250 jobs. Other locations have not yet been reported. The company intends to implement most of the job reductions through natural attrition, part-time work and early retirement. The measures are part of a savings programme aimed at increasing the efficiency within the department, saving around €400 million.
ThyssenKrupp employs 159,000 people worldwide. Currently, 18,000 employees work in the administration departments.
Eurofound (2017), ThyssenKrupp, Internal restructuring in World, factsheet number 91641, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91641.
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