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.
Babcock Borsing Steinmüller (BBS), a German service provider for power plants, is to cut around 100 jobs. The company has set up a social plan according to which employees will be offered to change to a transfer agency for the period of one year.
According to the company, the main reason for the job reduction is the current focus on renewable energy in German politics which results in the fact that the construction of new power plants is no longer subsidised.
BBS employs around 1,400 people in several plants and belongs to Bilfinger Power Systems which forms one of the five segments of German construction company Bilfinger.
BBS is not the only Bilfinger company reducing staff, see also Bilfinger Pipeline Technologies 11/2014.
Eurofound (2014), Babcock Borsing Steinmüller (BBS), Internal restructuring in Germany, factsheet number 77869, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77869.