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.
Qimonda, an affiliate of German Infineon and a global memory supplier, announced on 13 October 2008 to cut an additional 1500 jobs at its German sites in Munich and Dresden. In April 2008 the company had already announced the cut of 350 jobs and the new job cuts will add to these.
Qimonda currently employs about 4,400 employees in Germany. Some 550 employees in Munich and 950 employees in Dresden may loose their job. Direct dismissals are not excluded. The reason for that restructuring measure - according to management - is to reduce labour costs. The job cuts in Germany are part of a greater restructuring programme which is aimed a cutting 3,000 out of 12,200 jobs.
Eurofound (2008), Qimonda, Internal restructuring in Germany, factsheet number 67232, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67232.