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.
Mining / Quarrying Mining And Quarrying Mining Of Coal And Lignite 05 - Mining of coal and lignite
1,300 jobs Number of planned job losses
Announcement Date
19 July 2006
Employment effect (start)
1 August 2006
Foreseen end date
31 December 2009
Description
Ruhrkohle AG (RAG) pursues four main areas of activity, focusing on energy and chemicals while continuing with its traditional coal mining and real estate businesses. The corporate group represents a workforce numbering more than 100,000 worldwide and total revenues about EUR 22 billion. RAG plans to merge the Groups administration department and the administration departments of its companies Degussa (chemical industry), Steag (energy) and RAG Immobilien (real estate). 1300 jobs will be cut within the next three years (FAZ 15.04.06). The plans are part of a widespread restructuring programme to prepare the public offering of RAG shares in the second quarter of 2007. The Mining, Chemicals and Energy Industrial Union (IG Bergbau, Chemie und Energie, IGBCE), which is represented on the Groups supervisory board, support the plans provided that there will be no compulsary redundancies.
Sources
19 July 2006: Handelsblatt
15 April 2006: Frankfurter Allgemeine Zeitung
19 April 2006: Handelsblatt
Citation
Eurofound (2006), Degussa, STEAG, RAG Immobilien, Internal restructuring in Germany, factsheet number 63342, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63342.
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