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.
German multinational Siemens will cut 1,100 jobs at its energy subsidiary ‘Siemens Energy Sector’. It is reported that Siemens wants to reduce involvement in less profitable business areas.
The job cuts, which are part of the restructuring programme “Siemens 2014”, will mostly affect the fossil power generation division and the oil and gas division. It will affect Siemens’ sites in Erlangen (Bavaria), Offenbach (Hesse), Duisburg, Mülheim an der Ruhr (North-Rhine Westphalia) and Berlin and shall be realised by October 2013.
The company aims to avoid forced redundancies and is in talks with worker representatives. In May 2012, Siemens already announced to make 490 workers of its energy transmission section redundant (see here).
Eurofound (2012), Siemens Energy Sector, Internal restructuring in Germany, factsheet number 74719, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74719.
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