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.
German telecommunication services provider Freenet is to cut 300 out of 5,000 jobs in Germany by the end of 2015. Several departments such as revision, marketing and sales will be affected.
The restructuring programme is determined to reduce costs, streamline processes and functions. Management and works council have coordinated their interests. However, it is not yet clear if operational dismissals will be necessary. According to a spokeswoman, the reduction shall mainly be implemented by not prolonging temporary contracts.
Freenet employs around 5,000 people and has run profits of around €250 million in 2014.
Eurofound (2015), Freenet, Internal restructuring in Germany, factsheet number 78772, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78772.