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.
Gewofag, a German housing association, announced plans to cut 100 jobs by 2021. An external consulting company reached the conclusion that the company needs to save costs in the area of cleaning. Thus, the number of employees should be reduced by extending the cycles and lower the frequency of facility cleaning. Mostly affected are employees in the supervision of buildings. However, according to the management, dismissals due to operational reasons are to be avoided. The bulk of the cuts should be achieved via natural fluctuation. In 2015, business figures forecasted a surplus of over €19,6 million.
The works council announced that they are aiming to reduce the figures of the redundancies. Gewofag, headquartered in Munich, manages over 34,000 flats and currently employs 800 staff.
Eurofound (2016), Gewofag, Internal restructuring in Germany, factsheet number 87972, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87972.