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.
Bilfinger, a leading German industrial service provider, announced 200 job cuts in 2020. The reduction will affect 110 positions in the administration, IT, management and board divisions, in the headquarter of the company, in Mannheim. A further 90 redundancies will impact smaller units across the country. The measurement is motivated by complexity reduction and optimisation concerns and is expected to cost about €80 million in 2019 and 2020, but shall save €40 million in costs per year from 2021 onwards. No direct dismissals are foreseen and a social plan is currently being negotiated.
Eurofound (2019), Bifinger, Internal restructuring in Germany, factsheet number 99107, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99107.