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.
IT company Siemens announced the loss of 1,750 jobs from its IT Solutions and Services business across the global operations. Apart from Germany where the company will cut 650 jobs, there is no further information on which other plants and countries will be affected.
The job cuts are part of the purchase of the IT Solutions and Services division of Siemens by Atos Origin. The merge is planned up to July 2011.
Siemens IT Solutions and Services has been going through significant restructuring since March this year, when it announced the loss of 4,200 jobs worldwide.
Eurofound (2010), Siemens, Merger/Acquisition in World, factsheet number 71728, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71728.