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.
Siemens, headquartered in Vienna, Austria, plans to close its industrial power supply plant in Vienna by the end of 2026, affecting 178 employees. The company aims to offer jobs within Siemens Austria, which currently has around 100 open positions.
This decision is part of a global restructuring effort to enhance competitiveness by reallocating production to other facilities, including Sibiu, Romania, while retaining Vienna as a hub for management, research, and product development in this segment.
Siemens Austria employs 9,300 people and reported revenues of €3.2 billion in 2023.
Trade unions criticised the impact on employees, while industry representatives linked such closures to rising inflation and costs, urging government intervention to preserve industrial competitiveness.
The Austrian Credit Protection Association (KSV1870) and unions advocate for robust financing proof and employee protections, highlighting the group's challenges in high production costs and inventory surpluses despite strong sales in 2024.
Eurofound (2024), Siemens, Offshoring/Delocalisation in Austria, factsheet number 202077, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202077.