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 May 2017, the German insurance company Gothaer announced the restructuring programme 'Gothaer 2020' which includes a cut of 600 jobs within the following three years in Germany. Furthermore, the insurance company wants to expand its digital products and infrastructure. There will be a cut of 200 jobs each year until 2020.
While the annual consolidated net profit increased by over 17% in 2016, the gross premiums decreased by over 2%.
The insurer employs about 5,700 staff members at the moment in Germany.
Eurofound (2017), Gothaer, Internal restructuring in Germany, factsheet number 91108, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91108.