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.
Nederlandse Spoorwegen (NS), the Dutch railway company, plans to cut 2,300 jobs over the next 4 years.
The number of passengers has dropped dramatically, as a result of the economic downturn and changing travelling patterns caused by COVID-19. NS expects it will take at least until 2024 before the number of passengers is back at the level of 2019. The reorganisation is deemed necessary to keep the company financially healthy until then.
Jobs will be cut in all parts of the company and the cuts are expected to be realised through natural attrition, as 2500 employees are set to retire before the year 2025. Retraining of employees may be part of the reorganisation plan since there is no one-to-one correpondence between functions of people retiring and functions being cancelled.
Employee representatives said they were in shock upon hearing the plans, stating it seemed like NS is trying to move the costs of the COVID-19 on to the employees.
Eurofound (2020), NS, Internal restructuring in Netherlands, factsheet number 101135, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101135.