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 Thursday 16 November 2016, the German industrial group Siemens announced the plan to cut around 6,900 jobs worldwide, representing 2 per cent of its global workforce. The job reduction will affects mostly the power and gas units. About half of the jobs will be lost in Germany where the plan is to help its power division stay competitive. Other 1,100 jobs will be cut in the rest of Europe and further 1,800 in the US. The internal restructuring will take place over several years.
For the latest restructuring see: Siemens Germany (11-05-2017)and Siemens Germany (17-02-2017) in the ERM.
Siemens employs about 351,000 worldwide.
Eurofound (2017), Siemens, Internal restructuring in World, factsheet number 92592, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92592.