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.
On 18 January 2008, Telekom, German largest telecommunication company, announced the creation of 4,000 jobs for young academics to increase innovation in high tech fields ranging from electronics to media. The new jobs are expected to be created by the end of 2008. In line with a cost-saving program announced in 2006, Telekom is also reducing its elderly workforce by 32,000 by the end of 2008. The company says it needs to react to demographic change. In 2005, an additional 50,000 workers were outplaced to subsidiaries paying lower wages. In the same year Telekom employed 5,000 new, young workers.
Sources
21 January 2008: Frankfurter Allgemeine Zeitung
21 January 2008: Handelsblatt
Citation
Eurofound (2008), Telekom, Internal restructuring in Germany, factsheet number 66231, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66231.
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