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.
The German private clinic group Paracelsus will cut 400 jobs due to internal restructuring as part of its insolvency proceedings. The main job reductions will fall in Osnabruck (Nordrhein-Westphalen). A clinic in Karlsruhe with 190 employees will close entirely. The restructuring plan aims to effect cost reductions by the end of February. Paracelsus hopes that come summer its clinics will again be economically viable.
Negotiations regarding a social plan have yet to be announced.
Paracelsus has 5,200 employees in Germany, working across 40 medical facilities, including hospitals and rehabilitation clinics, most of which are located in Lower Saxony.
Eurofound (2018), Paracelsus, Closure in Germany, factsheet number 93168, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93168.