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 14 June 2016, German energy provider EnBW announced plans to cut 400 jobs by 2020. According to the company, job cuts have become necessary due to declining electricity prices and the costs for the withdrawal from nuclear energy. Moreover, the company is suffering from increasingly fierce competition. With the restructuring measures, EnBW wants to save some additional €250 million by 2020. Mostly affected are the areas of sales, energy generation as well as trading and administrative functions. According to the management, the company focuses on innovation and growth and a future-oriented business. At first, EnBW will quit activities in the sector of electricity and gas sales to large customers. Any further steps will be discussed in the upcoming weeks. Affected employees can opt for termination agreement or an alternative employment within the corporate group. Executive board and works council are currently negotiating the terms of restructuring. However, compulsory redundancies have to be avoided due to contractual agreements.
EnBW, headquartered in Karlsruhe, currently employs about 20,000 employees. For latest restructuring see also January 2013.
Eurofound (2016), EnBW, Internal restructuring in Germany, factsheet number 87771, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87771.
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