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.
As announced on September 30, 2013, German multinational Siemens will cut 5,000 jobs in Germany; half of them will be cut by the end of the year. This is due to a cost savings programme.
Globally, Siemens intends to cut 15,000 of 360,000 positions. There will be no forced redundancies in Germany. Worker representatives estimate that the total number of job cuts might rise to 10,000. In Germany, only the medical section is not affected by job cuts, whereas 2,000 jobs will be axed in the industry section and another 1,400 in the Energy and Infrastructure & Cities sections.
For latest restructuring see Siemens (2012a), Siemens (2012b) and Siemens (2011).
Eurofound (2013), Siemens, Internal restructuring in Germany, factsheet number 75965, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75965.