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.
On 30 November 2015, German telephone manufacturer Gigaset announced to cut 550 jobs worldwide by the end of 2018. Approximately half of the cuts will affect German sites in Bocholt and Munich. Gigaset tried to rescue the company by expanding their business with the smart home and state-of-the-art business telephony solutions. However, the demand for the company's main product, cordless telephones, keeps decreasing. Job cuts are to help Gigaset to return to profitability. The management is currently negotiating with the works’ council. Gigaset currently employs 1,250 employees worldwide.
Update13/03/16:
On 7 March 2016, German newspaper Sueddeutsche Zeitung reported on the results of Gigasets' negotiations with employee representatives. In total, 325 job will be cut in Germany. Another 35 jobs will be subject to partial retirement. Affected are company sites in Bocholt, Munich and Düsseldorf. Gigasets' site in Düsseldorf will be closed by the end of 2017. In addition, management and employee representatives have negotiated an additional collective agreement for the remaining Gigaset employees. Their working time is prolonged to 38 hours per week and wage cuts were equally included. The new agreement took effect on 1 March 2016.
Eurofound (2015), Gigaset, Internal restructuring in Germany, factsheet number 86064, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86064.