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.
IBM management announced on 8 March 2005 that about 2,000 jobs would be suppressed by the end of 2005. This decision involves 1,300 jobs, which will be transferred to LGS, an IBM subsidiary, in order to lower the costs. Moreover, 400 early retirements and 400 voluntary resignations are expected. Details about this restructuring plan have been given by IBM France in April 2005 which confirmed a 769 jobs cut. Among them, one hundred and ten jobs are to be suppressed due to the sale of its PC unit to the Chinese company Lenovo. According to the union, 16 extra jobs might be lost as only 80 employees out of 106 will be relocated following the end of their temporary assignments at IBM Europe. 40 employees working within IBM Eurocoordination are also to see the end of their contract. A total of 825 jobs are expected to be lost. Management expects early-retirement and voluntary resignations.
Eurofound (2005), IBM France, Internal restructuring in France, factsheet number 61357, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61357.