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.
As announced on 3 August 2020, the powertrain subsidiary of German automotive supplier Continental, Vitesco Technologies (Vitesco) plans to cut 178 jobs at its plant in Schwalbach am Taunus due to internal restructuring. The consultations were previous planned for spring 2020, however, they were postponed due to the COVID-19 outbreak. Vitesco wants to focus on electric power units at Schwalbach, meaning that mostly employees working on development of engine systems and fuel lines will be affected by the job reduction. Although negotiations between management and works council regarding a social plan are still ongoing, Vitesco intends to implement job cuts until 2024.
Vitesco has 42,000 employees worldwide.
Updated, 9/4/2021:
As announced on 9 April 2021, Vitesco will only cut 25 jobs at its Schwalbach plant. This is the result of negotiations between management, works' council and worker's union IG Metall. Vitesco intends to cut those jobs via a voluntary programme.
Eurofound (2020), Vitesco Technologies, Internal restructuring in Germany, factsheet number 101523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101523.
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...
