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.
Utilities Water Supply; Sewerage, Waste Management And Remediation Activities Waste Collection, Treatment And Disposal Activities; Materials Recovery 38 - Waste collection, treatment and disposal activities; materials recovery
400 jobs Number of planned job losses
Announcement Date
14 December 2004
Employment effect (start)
3 January 2005
Foreseen end date
31 December 2011
Description
German utility Stadtwerke Hannover AG plans to cut 400 of its total 2,900 jobs by 2011. The company's management board and works council dismissed the reports saying no layoffs were planned and the staff would be reduced via natural attrition. The ongoing negotiations on the Triathlon restructuring project for the company are expected to be finalised shortly. The cost-cutting programme is expected to be presented in January 2005. The utility is 75.1 % owned by a holding company, controlled by the city and region of Hannover, northern Germany
Sources
14 December 2004: NDR Online
Citation
Eurofound (2004), Stadtwerke Hannover, Internal restructuring in Germany, factsheet number 60953, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60953.
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