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 December 2009, the laser and optical lenses manufacturer Jenoptik has announced to cut 240 jobs in Germany. The company's management board thus reduced the number of job cuts in comparison to a first announcement in November which foresaw the dismissal of some 300 people.
Due to a difficult market environment, Jenoptik wants to reduce its staff. In the first three quarters of 2009, Jenoptik suffered a drop in sales which amounted to €336.7 million. Staff reduction is part of the company's restructuring scheme which seeks to optimise cost efficiency at the companies' sites and in its production. Adversely affected employees are to be reemployed in a job-creation company established by Jenoptik. As of 30 September 2009, the company employed 3,310 employees.
Eurofound (2009), Jenoptik, Internal restructuring in Germany, factsheet number 69829, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69829.