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.
Second-hand clothing retail firm Háda announced that it is laying off 400 employees at its Kisvárda site, with immediate effect. The reason is that the COVID-19 epidemic caused a sudden fall in consumer demand, making the firm unable to give any tasks to its employees. Part of the effect of the epidemic is the government decision, in effect from the day before the day of the layoff announcement, that all non-essential retail stores must close every day at 15:00.
There is no word about any prior notification of – or even ongoing consultation with – employee representatives. A local opposition party official was critical that a firm that had received job creation-subsidies from the government in the recent years could fire employees in such an abrupt way.
In Kisvárda, Háda has been one of the largest employers in recent years.
The Háda chain has more than 80 stores nationwide and has been continually expanding its retail operation, until now. The Kisvárda site is the firm’s logistical centre. All clothing obtained abroad goes through the Kisvárda plant before being distributed among the retail stores. Háda sells second-hand clothes imported primarily from Scotland and Northern Ireland.
Eurofound (2020), Háda-1, Internal restructuring in Hungary, factsheet number 100056, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100056.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
