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 2 June 2016, the Swedish energy company Vattenfall announced it will cut up to 252 full-time jobs at its hydroelectric power division in Germany by the end of 2019.
The job cuts are part of a restructuring programme. The company plans to focus more on core areas and wants to reduce investments. Furthermore, Vattenfall will reduce production levels at six of its pumped storage plants in the German states of Thuringia, Saxony, Saxony-Anhalt, and Schleswig-Holstein. Plants in Geesthacht, Schleswig-Holstein, will enter into a transitional operation mode.
Vattenfall had already announced to cut 200 jobs at its service divisions in Hamburg and Berlin in April 2017, see (Vattenfall, 2017).
Vattenfall employs 420 staff members at its hydroelectric power divisions in Germany.
Eurofound (2017), Vattenfall , Internal restructuring in Germany, factsheet number 91611, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91611.