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 manufacturer of office furniture Bene announced its plans to eliminate 127 jobs in administration at its headquarter in Waidhofen an der Ypps (Lower Austria). Affected employees have been registered with the public employment service (AMS), 50 workers have been given a guarantee of re-employment (Wiedereinstellungszusage).
This step comes contrary to claims made earlier this year, that after cutting 29 jobs in the production area no further redundancies would be necessary. The company is facing continuous financial difficulties with an downward trend in turnover and a net debt of €74.6 Mio. Bene has therefore been looking for investors and two investors may take over 90% of company shares (pending shareholder approval in June 2015).
Eurofound (2015), Bene, Internal restructuring in Austria, factsheet number 79402, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79402.