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 7 June, Stada, a German manufacturer and global trader of generics and branded pharmaceutical products, announced details of a new growth program which will result in the loss of 800 jobs across Europe.
According to Stada's press release, this project should reduce the complexity of group structures, make centralized control of group companies more efficient and accelerate continuous cost optimization with a focus on the fields of cost of sales/production locations as well as organizational, reporting and personnel structures. This will also involve the sale or abandonment of production facilities as well as outsourcing individual functional areas to third-party providers.
The program will also result, in the short and mid-term, in significant staff reductions in all Company divisions and regions, which, including outsourcing and sales, involves approx. 800 full-time positions and thus approx. 10% of the current personnel level in the Group; the focus of the staff reductions will be outside of Germany. There is no more information on the planned job cuts.
Eurofound (2010), Stada, Internal restructuring in European Union, factsheet number 70619, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70619.