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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35.1 - Electric power generation, transmission and distribution
485 jobs Number of planned job losses
Announcement Date
5 February 2016
Employment effect (start)
5 February 2016
Foreseen end date
31 December 2019
Description
German electric utilities company Enervie will cut 485 jobs by the end of 2019. Negotiations between the management and the works council wer completed with a settlement of interests and a redundancy programme. The company has already found a socially acceptable solution for 390 employees. Additionally, Enervie strives to avoid direct dismissals and offers employees the opportunity to move to a transition company. The company also wants to keep some of the affected employees in other positions.
With these job reduction measures Enervie wants to become more competitive, strengthen their equity capital and reduce its debts. Enervie, headquartered in Hagen, currently employs 1,300 employees.
Sources
5 February 2016: Enervie press release
5 February 2016: Meinerzhagener Zeitung
Citation
Eurofound (2016), Enervie, Internal restructuring in Germany, factsheet number 86440, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86440.
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