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.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Motion Picture, Video And Television Programme Production, Sound Recording And Music Publishing Activities 59.2 - Sound recording and music publishing activities
400 - 459 jobs Number of planned job losses
Announcement Date
22 April 2003
Employment effect (start)
1 May 2002
Foreseen end date
30 June 2004
Description
The integration of the American label Zomba could lead to the suppression of 400 jobs on a total of 2,000. Bertelsmann plans to close the Zomba office in Kôln for the end of May 2003. In May 2004, almost 20% of the jobs were to be cut at the German arm of Bertelsmann Music Group (BMG). At that date, the company had just over 300 staff; 59 of these jobs were to go. The job cuts form part of the company's planned restructuring measures, which have also affected its business in North America. The restructuring programme within the company's German arm is expected to be concluded by the end of June.
Eurofound (2003), BMG, Merger/Acquisition in World, factsheet number 58839, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/58839.
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