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.
The Austrian insurance group Uniqa is to cut 200 out of its 1,000 jobs in its headquarters in Vienna within the next 12 months. This is part of a larger restructuring process with a total of 600 redundancies out of 9,000 administrative jobs in the 21 countries where the insurance company is operating. The step is in part due to duplications in the administrative processes which have resulted from a number of company mergers. Socially acceptable solutions are to be found, according to the company's CEO Mr Brandstetter; dismissals are only to be implemented if no agreement can be found. The company has reserved EUR 80 million for these socially acceptable staff reduction measures.
Eurofound (2011), Uniqa, Internal restructuring in Austria, factsheet number 72400, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72400.