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.
Construction group Porr is to cut 74 out of its 270 jobs at its Vienna headquarters.
This is part of the restructuring programme 'fit for future' and aims at increasing efficiency and optimising the construction site management. In a first step, the personnel costs will thus decrease by about € 5 million annually. The group was making a loss of € 72 million in 2011, after making a profit of € 16.7 million in 2010.
The 74 staff members were registered with the Public Employment Service's early warning system on 25 June 2012. A social plan for them has been developed and a work foundation will be available for the concerned employees.
Eurofound (2012), Porr, Internal restructuring in Austria, factsheet number 73807, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73807.