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.
German chemical company BASF has announced that it will cut 2,000 jobs worldwide by the end of 2022, including 600 positions in Germany.
The restructuring programme will start in March 2021 and will affect jobs in the Global Business Services division. A large part of the activities from Germany will be offshored to the BASF service centres in Berlin (Germany), Kuala Lumpur (Malaysia), and Montevideo (Uruguay). The division was founded in 2020 and provides services for BASF’s business units, ranging from financial and logistical processes to services in the areas of communication, human resources, environment, health and safety. The programme is expected to save more than €200 million per annum beginning fiscal 2023.
The group employs more than 117,000 people worldwide, including 8,400 in the business services centres.
Previous restructuring programme was announced in June 2019 (6,000 jobs cut worldwide).
Eurofound (2021), BASF, Internal restructuring in World, factsheet number 103482, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103482.
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...
