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.
WM-data Novo will start joint discussions with its staff on the redundancy of approximately 190 employees. The cooperation procedure aims at consolidating and reorganising the operations of WM-data Novo, its subsidiaries, and WM-data, WM-data Infra Solutions, WM-data Internal Services and WM-data X-Way. The restructuring is due to operational and financial reasons.
The company seeks to complete the cooperation procedure by the end of April. The aim is to minimise the number of job cuts through pension arrangements, in house transfers and training schemes.
On May 7 2004, after cooperation negotiations with the personnel, the company has decided to make at maximum of 152 employees redundant. The final number may still decrease if the present open vacancies are filled by inner replacements
Eurofound (2004), WM-data Novo, Internal restructuring in World, factsheet number 59374, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59374.