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.
Defence and security company Cassidian, part of the EADS group, will cut 850 jobs in Europe in an effort to save costs and increase profitability. Most jobs will be lost in management and administrative functions.
The company did not detail in which countries and at which sites the job reduction will take place. According to unions information, the majority of the reduction will be implemented in Germany, other job cuts are expected for France (100 jobs), the United Kingdom (100 jobs) and Finland (30 jobs).
It is reported that Cassidian assures that no forced dismissals will take place.
Eurofound (2012), Cassidian, Internal restructuring in European Union, factsheet number 74592, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74592.
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