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.
Vattenfall Europe, the German subsidiary of Swedish energy supplier Vattenfall Group, is to cut 1,500 out of 21,000 jobs in Germany. This is part of a cost cutting programme of €340 million. €180 million are to be saved by reducing labour costs. Direct dismissals will be avoided as the company has signed a collective agreement that excludes direct dismissals until the end of 2012. Hence, job cuts will mainly be realised by implementing an early retirement scheme. As of March 2010, there is no information on when the measure is to be implemented. In addition, Vattenfall's service unit VEK employing 900 people is to be sold. The United Services Union ver.di called for protests.
Eurofound (2010), Vattenfall Europe, Internal restructuring in Germany, factsheet number 70249, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70249.