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.
US e-hailing platform Uber has announced it will cut 225 of the 1,500 jobs at its office in Amsterdam. The job cuts are part of a worldwide reorganisation, which was already announced in May (3,700 jobs cut). As a result of the COVID-19 crisis, turnovers have dropped with roughly 80%, causing an urgent need for cost reductions. Uber states that it has developed a strong social plan for the employees who will lose their jobs. In May, the company already reserved around $35 million (€31.09 million) for severance and other benefits payouts resulting from the worldwide reorganisation.
Eurofound (2020), Uber, Internal restructuring in Netherlands, factsheet number 100924, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100924.