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 Swiss group Oerlikon has announced 800 job cuts worldwide affecting the surface solutions business unit (10% of the Surface Solutions Segment’s workforce). The reorganisation is announced in the framework of a productivity program, primarily aimed at reducing structural cost in its Surface Solutions Segment. Job cuts will affect all geographies. Group orders for the first quarter decreased by 29.9% to CHF 477 million (€453.59 million), particularly in Asia and Europe. Group sales were 15.2% lower at CHF 529 million (€ 503.04 million), attributed to lower sales across all regions and adverse currency movements. Out of the total jobs cut, 20 positions will be cut in France. Other reduction will affect Switzerland and the US.
Eurofound (2020), Oerlikon Balzers Coating, Internal restructuring in World, factsheet number 100599, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100599.