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.
Norway-based low-cost airline Norwegian Air Shuttle, trading also as Norwegian, has announced that it will cut about 2,000 jobs worldwide.
The restructuring programme is related to the COVID-19 pandemic and its impact on the air travel sector. The CEO of Norwegian Air said the company will discontinue its long-haul operations, including transatlantic flights. The company will focus on its short-haul European network. In the UK, the airline is to close its base at London’s Gatwick Airport, but also the bases operating in the US, Italy, Spain and France (286 jobs) will be closed.
Additionally, Norwegian Air is trying to get public aid and has started negotiations with the Norwegian government.
Norwegian Air Shuttle, founded in 1993, is Norway’s largest airline and the fourth largest low-cost carrier in Europe: it operates over 500 routes to more than 150 destinations worldwide. The company and its subsidiaries employ more than 11,000 staff.
Eurofound (2021), Norwegian Air Shuttle, Closure in World, factsheet number 103192, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103192.
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...
