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.
ICN stands for Intercom Network. First announcement on 21/08/2002 : suppression of 1,300 jobs above the 17,000 already planned. Second announcement on 26/08/2002, no decision is taken but the number of 4,000 jobs suppressed above the 17,000 foreseen was mentionned.
February 2004. Siemens plans to relocate up to 600 jobs at its fixed telecom networks factory in Bruchsal in south west Germany to China. Negotiations are underway with employee representatives at the group's factory currently employing 1,400 people. The plant makes digital subscriber line (DSL) modems which could be built where cost conditions are more favourable, the management is considering a relocation to China. Any job cuts that were made would be done on the best social conditions possible, either by retirement schemes or moving employees elsewhere within the group.
The fixed telecom networks division, ICN, managed to pull itself back into profit in the fourth quarter of its 2003 business year by way of deep restructuring and by cutting around 20,000 jobs over two years.
Eurofound (2002), Siemens, Internal restructuring in Germany, factsheet number 59824, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59824.
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