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.
French nuclear group Areva is to cut 1,000 jobs in Germany during 2016 and 2017. The job reduction will mainly affect the group's site in Offenbach which Areva intends to shut down by mid-2016. Activities and employees shall be moved to Erlangen und Karlstein but overall the number of employees will decline from currently 5,126 to 3,752. This is due to the fact that the job cuts are being affected on top of a restructuring programme already announced in 2011 which previews a job reduction of 500 positions.
Areva has recently announced a loss of almost €5 billion. Moreover, the market conditions in Germany changed due to the shutdown of any nuclear reactors by 2022. For previous restructurings see Areva-2008, Areva-2009 and Areva-2013.
Eurofound (2015), Areva, Relocation in Germany, factsheet number 79310, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/79310.