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.
Siemens agreed with the works council of its gear unit division on a reduction of 500 jobs until 2016. While the sites in Herne and Vreden are being closed, production will be concentrated at the sites in Bocholt, Voerde and Mussum.
Part of the agreement with the works council is that there will be no direct dismissals. The job cuts will be realised by way of partial retirement, voluntary redundancy and by natural attrition. The company stated that these job reductions are part of a variety of cost reduction plans.
Eurofound (2012), Siemens, Internal restructuring in Germany, factsheet number 74045, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74045.