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.
On 7 May 2013, EMC announced its plan to lay off more than 1,000 staff worldwide in an attempt to cut costs. The multinational corporation offering data storage, information security, and cloud computing solutions has started rolling out restructuring programmes aiming at a total workforce reduction of 1,004 positions. EMC already eliminated around 800 positions in the first quarter of this year, affecting all major functional groups and locations within the corporation.
Moreover, according to reports, the company has previously laid off 1,163 workers during 2012. The job cuts concern the company’s Information Storage, RSA Information Security and Information Intelligence divisions and will affect EMC staff worldwide. The restructuring programme is set out to be completed within a year of its start. The multinational corporation currently employs around 60,000 staff worldwide. Till now there is no announcement on which countries will be affected by the restructuring.
Eurofound (2013), EMC, Internal restructuring in World, factsheet number 75371, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75371.