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 AG unit Siemens Nederland plans to cut 200 out of a total of 3,000 jobs in the Netherlands, company director W. de Leur told ANP, confirming an earlier statement from trade union CNV Metaal en elektro. The job losses come after a sharp decline in results, the union said, adding that this is mainly due to reduced investment in information and communication technology and the high cost structure within Siemens. The job losses are necessary because of the adverse economic conditions, with demand for networks and ICT systems in particular having declined. De Leur said Siemens will spread the job cuts over a year, to allow for as much natural wastage as possible. However, he said that eventually compulsory redundancies will be inevitable.
Eurofound (2004), Siemens, Internal restructuring in Netherlands, factsheet number 60574, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60574.