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 05. September 2023, the German oil and gas company Wintershall Dea has announced that it will be cutting 300 jobs in Germany as part of an internal restructuring programme.
The restructuring plan in Germany is part of a worldwide restructuring which will affect 500 people. The restructuring has become inevitable after Wintershall Dea announced its complete withdrawal from Russia at the beginning of 2023. Consequently, Wintershall Dea intends to safe up to €200 million annually. Half of the savings are to be achieved through the job cuts. The locations mainly affected will be the company’s headquarters in Kassel and Hamburg. The company intends to make the job reduction as socially acceptable as possible. Wintershall Dea will start negotiations with the workers’ representatives shortly.
Currently, Wintershall Dea has approximately 2,000 employees worldwide.
Eurofound (2023), Wintershall Dea, Internal restructuring in Germany, factsheet number 200282, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200282.