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.
On 8 July 2009, the chemical company Wacker Chemie announced the loss of 800 German jobs by the end of 2010. The company stated that it wished to forego dismissals due to operational reasons. Solutions were already found for 450 out of the 800 jobs. They included natural wastage, part-time working schemes for senior employees as well as transferring employees to other parts of the company. The company stated that the remaining job cuts of 350 are hopefully to be realised by similar means as well as compensation payments. The job cuts are a response to a decline in demand.
Eurofound (2009), Wacker Chemie, Internal restructuring in Germany, factsheet number 69268, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69268.