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.
Talanx Group, Germany's third largest insurer, announced a restructuring programme aimed at preparing Talanx to enter the stock market. Talanx Group is still affected by the acquisition of insurer Gerling five years ago. In order to consolidate the equity capital base, the company now intends to reduce administrative costs by 245 Million Euro. Between 200 and 1,200 jobs (out of a total of 6100) will be cut in private customer insurance and SME insurance branches.
Eurofound (2011), Talanx, Internal restructuring in Germany, factsheet number 71982, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71982.