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.
Tele2, Austria's third largest fixed network and internet provider, plans to reduce its workforce from 300 to 260-270 by the end of 2010. So far, the company sent written notification of the planned dismissal of 17 persons to the Labour Market Service (AMS). The rest of the planned job reductions will take the form of natural attrition, according to the company's general manager Mr Pufitsch. The reason for the redundancies is the need for improved performance. The company has had economic difficulties that have been caused by a decline in prices and the switch of private customers from landline telephone lines to mobile phones and from fixed internet access to mobile internet. After a drop in sales in 2009 of 10 percent, the company expects a further drop in sales for 2010.
Eurofound (2010), Tele2, Internal restructuring in Austria, factsheet number 71040, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71040.