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.
As announced on December 21st, 2011, German electronics and electrical engineering multinational Siemens announced job cuts in its Healthcare Division affecting 400 to 600 people. Worldwide, up to 1,000 employees may be affected by job cuts.
On November 10th, 2011 Siemens had announced a job reduction concerning 500 employees. The now announced numbers are the specification of these plans. The cuts are part of Siemens's new strategic programme called "Agenda 2013", which is said to be a reaction to the difficult economic situation in the sector.
Eurofound (2011), Siemens, Internal restructuring in Germany, factsheet number 72723, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72723.