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 2003, Austria's largest bus operator, the state-owned post-bus company, Postbus, was sold to the Austrian Federal Railways (ÖBB), which runs its own bus fleet (Bahnbus). Due to statutory commitments, ÖBB has been obliged to realise a merger of the two bus operators concerned by 1 July 2004 and then to dispose of one-third of the new Post-/Bahnbus company to private competitors. According to management, this will endanger 1,000 of the then 4,400 employees. 400 of them are expected to be taken over in the course of the partial privatisation.
Eurofound (2004), Postbus, Merger/Acquisition in Austria, factsheet number 60342, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60342.