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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Computer, Electronic And Optical Products 26 - Manufacture of computer, electronic and optical products
5,400 - 6,400 jobs Number of planned job losses
Announcement Date
19 September 2005
Employment effect (start)
1 October 2005
Foreseen end date
30 September 2006
Description
The new chairman of Siemens AG, Klaus Kleinfeld, has announced far-reaching restructuring of the group in order to raise productivity and profitability. The IT-services sector SBS and the communications department will be worst-affected. More than 5,000 jobs will be lost. Siemens has already launched several restructuring efforts in its various business line in 2005.
Sources
19 September 2005: Financial Times Deutschland (www.ftd.de)
Citation
Eurofound (2005), Siemens, Internal restructuring in Germany, factsheet number 62255, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62255.
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