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 confirmed on 12 April 2021, the German financial service provider Deutsche Bank will cut 1,190 jobs in Germany as part of a large-scale closure of local branches until the end of 2022 due to internal restructuring. According to Deutsche Bank, cuts are a reaction to the changing consumer behaviour and the increase of online banking. Thus, the restructuring programme involves the closure of 97 of 497 Deutsche Bank branches until the end of 2021 and the closure of 50 of 800 Postbank branches each year until the end of 2022.
Management and works’ council have already reached an agreement that includes severance payments as well as part-time and early-retirement programmes.
The German restructuring plan of Deutsche Bank is part of worldwide restructuring programme (Deutsche Bank, 2019) announced in 2019 including the loss of 18,000 of 74,000 Deutsche Bank employees until the end of 2022.
Eurofound (2021), Deutsche Bank, Closure in Germany, factsheet number 104577, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/104577.
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...
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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...
