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.
Professional Services Scientific, Architectural And Engineering Technical Activities Architectural And Engineering Activities; Technical Testing And Analysis 71 - Architectural And Engineering Activities; Technical Testing And Analysis
200 jobs Number of planned job losses
Announcement Date
6 September 2023
Employment effect (start)
29 August 2024
Foreseen end date
Description
COWI is undergoing a significant restructuring to streamline its organization, due to increasing demands for digitalization and employee competencies, resulting in the elimination of up to 150 positions. The changes will impact various roles, including those in Denmark.
This restructuring is part of Cowi’s efforts to align its business more effectively with current market demands and technological advancements. This restructuring aims to create a flatter organizational structure, bringing top management closer to project execution. The changes are expected to enhance profitability and efficiency, with a notable impact on leadership and administrative roles. This strategic move is part of COWI’s broader effort to improve operational effectiveness and sustain growth over time in a modern environment.
The restructuring interests all COWI's 11 offices in Denmark: Kongens Lyngby (Headquarters); Aalborg; Aarhus; Esbjerg; Odense; Ringsted; Vejle; Holstebro; Hillerød; Sønderborg; Silkeborg
29/08/2024
The company stated that it plans to eliminate approximately 200 positions.
The number of layoffs is 33% more than initially announced.
Eurofound (2023), COWI, Internal restructuring in Denmark, factsheet number 201527, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/201527.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
