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 21 March 2007, the Danish pharmaceutical company Nycomed announced its new restructuring scheme. The company stated that it is expecting to cut up to 1,250 jobs worldwide due to synergy effects and improved efficiency. After the acquisition of Altana Pharma AG, and its former headquarters in Konstanz (Germany), German employees are expected to be the most heavily affected by the job cuts. Nearly 800 employees are supposed to lose their jobs in Konstanz (see fact sheet ID 9242). Another 465 jobs shall be cut within the sales departments of Nycomed worldwide. The company announced that apart from Germany and Denmark, another 14 countries will be affected by the job reduction scheme. The company seeks to negotiate the details of the job reduction scheme with the works council of its units in each country. Nycomed currently employs around 12,300 employees worldwide.
Eurofound (2007), Nycomed, Merger/Acquisition in World, factsheet number 65164, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65164.