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.
In the framework of a worldwide restructuring programme, the Austria based RHI refractories company is to cut 250 jobs in Austria by the end of 2009. According to Thomas Fahnemann, the group's CEO, the firm plans to cut 80 jobs in Styria, 60 in Carinthia and 50 at its headquarters in Vienna. This is a part of a worldwide cost savings programme of the company, affecting some 1,000 employees, which became inevitable to cope with dramatic cutbacks in orders. In order to mitigate the social consequences of the planned dismissals, the company provides voluntary severance payments and retraining measures for the employees affected. Moreover, it has set up a special social fund to prevent cases of social hardship.
Eurofound (2009), RHI, Internal restructuring in Austria, factsheet number 68839, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68839.