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.
The second-largest Polish commercial bank Bank Polska Kasa Opieki, commonly known as Bank Pekao, has announced that it will cut up to 1,100 jobs through a collective dismissal at its units across Poland by the end of June 2021. In addition, the employment contracts of 1,250 employees will be adjusted to new roles and wages. The restructuring programme will be implemented between late March and 30 June 2021, and the conditions of the programme will be negotiated with the local trade unions. The move is a response to the current condition of the banking sector in Poland, including the process of digitalisation. The restructuring programme is also related to the COVID-19 pandemic and its impact on the financial sector.
Bank Pekao was founded in 1929. Currently, the bank employs over 12,600 people.
The previous restructurings in the bank were announced in April 2019 (950 jobs cut) and February 2020 (1,200 jobs cut).
Eurofound (2021), Bank Polska Kasa Opieki, Internal restructuring in Poland, factsheet number 103915, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103915.
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...
