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.
One of the world's leading refractories companies, the Austria-based RHI, is to slash 1,000 of its about 7,800 jobs worldwide, in the course of 2009. According to Thomas Fahnemann, the group's CEO, restructuring is the only possible measure to cope with the current economic slowdown. Dramatic cutbacks in orders from the steel, cement and glass industries have forced the company to save on personnel costs and to spend less on raw materials. The company's restructuring and saving programme aims at saving € 80 million - half of it still in the 2009. The planned dismissals will affect about 250 administrative staff and about 750 production workers. 250 employees will be affected in Austria only.
Eurofound (2009), RHI, Internal restructuring in World, factsheet number 68838, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68838.