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.
Siemens is to cut 500 out of 3,500 jobs in the company's Austrian headquarters in Vienna. Thus, every seventh employee is to be made redundant. Talks between the works council and the management will be taking place within the next few weeks. Following this announcement the total number of recently reported job losses in Austria is over 1,000 (see Siemens Linz 2013, Siemens Weiz 2013).
Updated 8-10-2013:
According to an interview with Siemens' managing director Mr Hesoun with the Wirtschaftsblatt on 8 October 2013, Siemens is to shed only up to 100 jobs in Austria. This number is much smaller than the originally anticipated (500 job cuts). The restructuring programme in Austria will probably concern two Siemens locations in Vienna and one in Linz (VAI). The step is due to reduced demand, which causes the closure of steel plants and gas power plants. The job cuts will in part take the form of natural attrition, i.e. part-time working models for older workers and sliding pension.
Eurofound (2013), Siemens, Internal restructuring in Austria, factsheet number 75465, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75465.