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.
Following the acquisition of computer service company Electronic Data Systems (EDS), the computer and technology company Hewlett Packard (HP) announced on 6 October 2008 that is to cut jobs at both companies in Germany. According to company information released on 20 Febuary 2009, at HP more jobs shall be axed than previously planned. As of Febuary 2009, 556 jobs out of 8,500 jobs shall be shed at HP and 1,150 out of 4,200 jobs at EDS. Compared with October 2008, plans forsee a total job cut of 1,706 instead of 1,400.
The job cuts will be implemented over the next two years (no precise timeline is given). As of Febuary 2009, there is no information whether the jobs cuts will involve direct dismissals or other reduction measures.
Eurofound (2008), Hewlett Packard, Merger/Acquisition in Germany, factsheet number 67207, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67207.