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.
Gigaset Communications, the Munich-based European market leader in manufacturing wireless telephones, announced the reduction of 100 out of 1800 jobs. Gigaset was an affiliate of Siemens before 80.8% of the business was sold to German investor Arques.
When the company announced the cut of 300 jobs after the takeover from Siemens in early 2009 (15042), the dismissed workers were transferred to a temporary agency for a period of two years. According to management, Arques now applies standard layoff procedures for medium-sized businesses and not Siemens standards. That means that all 100 employees will be dismissed directly. This is supposed to save at least €13 million in restructuring costs.
Eurofound (2010), Gigaset Communications, Internal restructuring in Germany, factsheet number 70134, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70134.