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.
Tele Columbus, one of the biggest German cable network operator which mainly provides TV and Internet connecting services to Berlin and Brandenburg, announced plans to shut down its site in Hanover. A total of 170 employees will be affected by this restructuring.
The company lately bought two smaller competitors for €1,3 million. However, according to the company's management, Hanover is located outside of the supply area. The main areas located in Hanover will be transferred to Berlin and Leipzig. A total of 70 jobs will be outsourced and the rest will be dismissed.
Tele Columbus, headquartered in Berlin, currently provides 3,6 million customers nationwide.
Eurofound (2016), Tele Columbus, Closure in Germany, factsheet number 87507, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/87507.