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.
Alcoa, a US multinational producer of primary aluminium, has announced 15,200 job cuts by the end of 2009 due to the global financial crisis. The restructuring envisages workforce reduction plan which will affect more than 13,500 employees (13% of the company´s worldwide staff) by the end of 2009. An additional 1,700 contractor positions will be eliminated. The company has also put in place a global salary and hiring freeze. Klaus Kleinfeld, Alcoa's chief executive, said "These are extraordinary times requiring extraordinary actions".
Eurofound (2009), Alcoa, Internal restructuring in World, factsheet number 67760, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67760.