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.
In February 2004, Schering, the pharmaceutical group, announced its intention to cut 350 jobs worldwide by the end of 2006. This announcement follows disappointing financial results for 2003 and a former announcement of 300 job cuts in July 2003. In June 2004, the company announced another 900 job cuts. Sources refer to a total count of job losses of 1,900 - 2,000.
On November 2004, Schering is finalising 2,000 job cuts and hopes to make 1,800 of them by the end of 2005, it said in a statement on 16 November. The company will cut 950 jobs in Germany and 300 outside the country as part of its FOCUS initiative. In June 2004, the company said it planned to cut 2,000 jobs globally and by 30 September, it had achieved more than 600 of these cuts.
Eurofound (2004), Schering, Internal restructuring in World, factsheet number 60075, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60075.
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