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.
Tallink Latvija, the Tallink Grupp subsidiary notified the State Employment Agency that it is launching a collective redundancies process involving 550 staff members. The affected employees are mainly crew members of the group's Latvian-flagged vessels MS Isabelle and MS Romantika, which operate on the Riga-Stockholm route, as well as the shore personnel in Latvia.
Both ships have been docked at the Port of Riga since mid-March due to the COVID-19 emergency situation and established travel restrictions declared to limit the spread of the disease. Both vessels currently have the minimum required level of technical crew on board. All other onboard employees have been at home on reduced salaries paid by the company for the last month.
The CEO of Tallink Grupp told the media that it is clear that the Riga-Stockholm route won’t be restored overnight or even in a matter of a few months. It is likely that the route won’t be restored to its pre-crisis capacity even this year. The group, therefore, will not have the same amount of jobs to offer in Latvia in the near future.
According with the annual review of 2019, Tallink Latvia employed on average 638 employees.
Eurofound (2020), Tallink Latvia, Closure in Latvia, factsheet number 100345, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100345.
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...
