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.
The Austrian subsidiary of the Germany-based provider of integrated transport and logistics services, Schenker, is to cut 100 jobs in Austria and 200 in south-eastern European countries. The activities in the latter group of countries are managed from the Viennese regional headquarters. Even though overall turnover could be increased by 11% during 2008, the worldwide economic crisis has severely hit the company since November 2008, with losses of 30% in tonnages transported since then. Apart from these heavy losses in transportation orders, it is argued that large-scale variations in exchange rates of the currencies involved account for the need to job cuts.
Eurofound (2009), Schenker, Internal restructuring in European Union, factsheet number 69052, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69052.