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.
American multinational HP recently announced additional restructuring measures on top of the previously announced elimination of 29,000 positions in October 2013. Within the framework of the previously announced large scale restructuring plan of Hewlett-Packard, additional 5,000 positions will be eliminated by the end of 2014.
As announced in December 2013, the total number of job cuts will therefore increase from 29,000 to 34,000 jobs. The additional job cuts represent an extra 15 pc of the originally predicted number of job cuts. Detailed information on where exactly the additional 5,000 job cuts will take place is yet to be published. According to media reports however, staff in Germany will be affected by the job cuts.
By October 2013, Hewlett-Packard had already carried out 24,600 job cuts which left the company with 317,500 remaining staff.
Eurofound (2013), Hewlett-Packard (HP), Internal restructuring in World, factsheet number 76428, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/76428.