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.
Norwegian Air UK, the subsidiary of Norway-based budget airline Norwegian Air Shuttle, has announced that it had initiated an insolvency process to close its long-haul flights in the UK, with a loss of 1,100 pilot and cabin crew jobs at Gatwick Airport. In October 2020, Norwegian Air already announced that 259 of these jobs would be cut.
Norwegian Air’s flights between London Gatwick Airport and the US were cancelled in March 2020 and the affected staff have been on paid leave on the UK government’s Coronavirus Job Retention Scheme since then.
The chief executive said the long-haul operations units in the UK, France, Spain, Italy and the US will all close, causing a loss of around 2,000 jobs. The restructuring is due to the fact that this segment of air travel will be slow to recover after the COVID-19 pandemic.
Before the pandemic, Norwegian Air UK operated 27 routes from London Gatwick to locations in Norway, Sweden, the Baltic States, Poland and the US.
Eurofound (2021), Norwegian Air UK, Bankruptcy in United Kingdom, factsheet number 103299, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103299.
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...
