Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Professional Services
Market Research And Advertising Services
Advertising And Market Research
73.1 - Advertising

400 jobs
Number of planned job losses
Job loss
Announcement Date
7 July 2004
Employment effect (start)
Foreseen end date

Description

Deutsche Stadte-Medien (DSM), the German outdoor advertising agency, now a subsidiary of Stroer Out-of-Home Media, is reported to have reached an agreement with its works council regarding plans to cut 400 out of a total of almost 900 jobs. Under the severance plan, 180 commercial employees are to be transferred to a qualification and employment company, while 220 employees are to be given the choice of either joining the company or continuing to work in their respective areas of activity as independent subcontractors.


Sources

  • 7 July 2004: Financial Times Deutschland

Citation

Eurofound (2004), Deutsche Stadte-Medien, Internal restructuring in Germany, factsheet number 60594, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60594.