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 22 July 2009, Siemens announced its plans to cut 300 jobs worldwide in its business segment building technologies. Around 120 jobs are to be cut in Germany. The "Fire Safety & Security Products" section is to be reorganised and its headquarters to be moved from Karlsruhe (Germany) to Sweden. Another 180 jobs are to be lost outside Germany. Siemens employed around 42,800 employees worldwide in 2008. First talks on the current restructuring were held with employee representatives. The timeline for the restructuring process has so far not been announced.
Eurofound (2009), Siemens, Internal restructuring in World, factsheet number 69309, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69309.