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.
T-Systems, a subsidiary of Deutsche Telekom, has announced that it is to cut 12,000 jobs by the end of 2010. Approximately 3,000 to 4,000 jobs will be cut each year throughout Germany. T-Systems stated that redundancies will be managed in a socially responsible way. The job cuts are part of a cost cutting programme to improve T-Systems economic competitiveness. The recent partnership deal signed with the American firm Cognizant, will give T-Systems access to Cognizant's offshore workforce in low-cost countries, allowing it to cut costs.
Eurofound (2008), T-Systems, Internal restructuring in Germany, factsheet number 66441, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66441.