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.
Wincor Nixdorf, a German provider of IT services to banks and manufacturer of ATMs, has announced a restructuring programme that will result in job losses of 1,100. This amounts to a reduction of 12 per cent of the workforce over the next three years. 500 jobs will be cut in Germany, where more than half of the company’s 9,000 employees are based. 250 jobs will be lost in other European countries. The company is planning redundancies as well as a shift towards outsourcing-based employment.
The restructuring will result in a shift of Wincor Nixdorf’s employment structure away from hardware production towards software and IT services, where the workforce is projected to grow. The cuts come in response to falling profits, which reflect falling sales in the company’s hardware business. They follow a previous restructuring programme in 2012/13.
Eurofound (2015), Wincor Nixdorf, Internal restructuring in European Union, factsheet number 83598, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83598.