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.
On 17 November 2006, Arcor, a leading provider of telecommunications services announced plans to cut 150 jobs. Arcor stated that it seeks to merge its regional offices in Hanover, Hamburg, Berlin, Dresden, Düsseldorf and Cologne. According to an agreement reached with trade union Transnet in January 2007, there will be no direct dismissals until the end of the year 2007.
The company named the persistent pricing pressure in the market as a reason for cutting the jobs, though no information is available on the saving potential of the measure. Furthermore, Arcor did not proclaim a time scheme for the job cuts. Arcor currently employs 3,765 people in Germany.
Eurofound (2006), Arcor, Internal restructuring in Germany, factsheet number 64467, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64467.