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, the whole of the state-owned Postbus company, Austria's largest bus operator which runs a large proportion of regional bus services, was sold to the state-owned Austrian Federal Railways (ÖBB), which runs its own smaller bus fleet (i.e. Bahnbus). The government's aim was to merge these bus operators under the umbrella of ÖBB in order to reduce excess capacities. As a consequence, the ÖBB management, in March 2005, announced that in the course of the ongoing merger process some 170 additional redundancies (after 480 in the 2001-2003 period) will take place until 2008, affecting, in particular, administration and workshops.
Eurofound (2005), Postbus und Bahnbus, Merger/Acquisition in Austria, factsheet number 61295, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61295.