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.
Despite ongoing company restructuring for several years, Österreichische Bundesbahnen (ÖBB), the federal railways company owned by the state, is still facing dramatic financial problems which make further significant personnel reductions necessary. According to Martin Huber, the CEO of the ÖBB holding company, 4,700 employees were made redundant or pensioned off in 2006. Thus, ÖBB’s total wokforce decreased from about 53,000 in 2003 to 43,000 by the end-2006. However, it still remains unclear how many of these 10,000 job cuts have been dismissals. Of the current 43,000 employees it is planned that around 5,000 will be either shifted to another workplace within the ÖBB group or made redundant by 2010.
Eurofound (2003), Österreichische Bundesbahnen ÖBB, Internal restructuring in Austria, factsheet number 59511, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59511.