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.
Media group Hubert Burda Media has announced that around 150 jobs are to go to Milchstrasse, the German publisher taken over by Burda for 28 million Euro in December 2004. The Milchstrasse magazines 'Amica' and 'Tomorrow' will also be relocated from Hamburg to Munich. Burda announced at the time of the takeover that it would be aiming at integrating Milchstrasse, which currently has 420 employees, as quickly as possible. The jobs losses will mainly come in the areas of administration, marketing and advertising sales. The German trade union ver.di and the union of German journalists have criticised the planned job losses. Burda has said that as many employees as possible will be offered other positions within the group. On 7 March 2005, the talks between management and the staff council ended without an agreement being reached at the end of the week. Talks are set to continue and the staff council is hopeful that an agreement can be reached. However, staff at Milchstrase, which Burda took over just before Christmas, are now uncertain as to what will happen to the various departments of the company. Burda plans to relocate Milchstrase's HR and advertising sales departments to Burda's headquarters, with the Milchstrase sales department to be subject to cut-backs. The Milchstrase publications 'Amica' and 'Tomorrow' are also set to be relocated. These plans will lead to the loss of around 200 jobs at Milchstrase. Following the three days of failed talks, it is unclear which Milchstrase staff will be eligible for redundancy measures, or even if there will be any redundancy measures.
Eurofound (2005), Milchstrasse, Merger/Acquisition in Germany, factsheet number 61184, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61184.
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