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 Belgian chemical company Solvay has announced a reorganisation of its composite materials business with 570 job cuts in the United States and UK as it accelerated its restructuring due to the COVID-19 pandemic. The total headcount of the division would fall by about 20%. The reorganisation leads to the closure of two sites at Tulsa (Oklahoma, USA) and Manchester (UK). The two sites will be closed before the end of the year. Solvay plans to transfer some activities to other plants in the USA and UK. The division, which makes plastics, resins and carbon fibre material for the aerospace industry, had already started a cost-cutting programme with 500 job cuts due to reduced production of Boeing’s grounded 737 MAX plane (see ERM FS). But this reorganisation is currently not sufficient to overcome the drop in expected demand for civil aircraft caused due to COVID-19.
Eurofound (2020), Solvay, Closure in World, factsheet number 100699, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100699.
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...
