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 10 Febuary 2009, German Ratiopharm Group, one of the worldwide leading generic drugs producers, announced it would cut 200 jobs in Germany and 400 jobs in other countries. There is no information which sites will be affected. The group employs a global workforce of 5,417 and has subsidiaries in most European countries as well as in Canada, China and Russia. The job cuts are part of a cost saving programme implemented to save E100 million by 2010.
Most jobs will be axed in administration, but research and development jobs will also be affected. Direct dismissals are to be expected, management says. Management and works council will negotiate a social plan. Ratiopharm is an affiliate of Merckle Group, which has been facing severe financial problems, and is to be sold to an as yet unknown investor.
Eurofound (2009), Ratiopharm Group, Internal restructuring in World, factsheet number 68135, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68135.