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 13 February 2017, Techem announced to cut up to 600 jobs in Germany by 2021. Techem is a specialist in energy services for the real estate sector specialised in reading and submitting households' heating costs. The reason for these measures is digitalisation. About 60% of readings can be done wireless, therefore less staff is necessary.
The company explained that most of the affected jobs are to be temporary agency employees and fixed-term contracts. Furthermore, Techem did not rule out compulsory redundancies. It is not clear how many of these 600 job cuts will affect Techem employees.
Techem employs 3,540 employees worldwide, about two thirds of them in Germany. The company is a subsidiary of the Australian financial investor Macquarie.
Eurofound (2017), Techem, Internal restructuring in Germany, factsheet number 90376, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90376.