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 25 August, the Oerlikon group announced its plans to cut 2,500 employees worldwide by the end of August 2010. The main shareholder - the Russian group Renova - pushed out the chief executive and launched a cost cutting plan, which envisages the sale of the company's textile and drive systems units.
The Oerlikon group is divided in six business units (textile machines; thin-film coating; production plants for thin-film silicon solar modules; vacuum systems; drive systems; and advanced technology). It has around 16,500 employees worldwide.
Eurofound (2009), Oerlikon, Internal restructuring in World, factsheet number 69844, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69844.