Postbus

Type
Merger/Acquisition
Country
Austria
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Land Transport And Transport Via Pipelines
49.3 - Other passenger land transport
1,000 jobs
Number of planned job losses
Job loss
Announcement Date
28 April 2004
Employment effect (start)
1 July 2004
Foreseen end date

Description

In 2003, Austria's largest bus operator, the state-owned post-bus company, Postbus, was sold to the Austrian Federal Railways (ÖBB), which runs its own bus fleet (Bahnbus). Due to statutory commitments, ÖBB has been obliged to realise a merger of the two bus operators concerned by 1 July 2004 and then to dispose of one-third of the new Post-/Bahnbus company to private competitors. According to management, this will endanger 1,000 of the then 4,400 employees. 400 of them are expected to be taken over in the course of the partial privatisation.

Sources

  • 29 April 2004: Der Standard

Citation

Eurofound (2004), Postbus, Merger/Acquisition in Austria, factsheet number 60342, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60342.