S&T

Type
Internal restructuring
Country
European Union
Region
Location of affected unit(s)
Sector
Information / Communication
Computer Programming, Consultancy And Related Activities
Computer Programming, Consultancy And Related Activities
62 - Computer programming, consultancy and related activities
100 jobs
Number of planned job losses
Job loss
Announcement Date
14 December 2011
Employment effect (start)
Foreseen end date
31 December 2012

Description

Austrian IT provider S&T plans a complete overhaul which includes 100 job cuts i.e. 8% of all jobs and a reduction of the number of subsidiaries from 43 to 14. As of December 2011, there is no information on the countries affected by the restructuring.

Other restructuring measures will follow - among those changes in the corporate structure. The measures are blamed on the loss of turnover at the end of the third quarter 2011. The company expects to return to profit in 2012. It will then start to produce its own IT services and technologies.

Sources

  • 14 December 2011: Wirtschaftsblatt

Citation

Eurofound (2011), S&T, Internal restructuring in European Union, factsheet number 73235, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73235.