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.
Austrian IT provider S&T plans a complete overhaul which includes 100 job cuts i.e. 8% of all jobs and a reduction of the number of subsidiaries from 43 to 14. As of December 2011, there is no information on the countries affected by the restructuring.
Other restructuring measures will follow - among those changes in the corporate structure. The measures are blamed on the loss of turnover at the end of the third quarter 2011. The company expects to return to profit in 2012. It will then start to produce its own IT services and technologies.
Eurofound (2011), S&T, Internal restructuring in European Union, factsheet number 73235, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73235.