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 automotive company MAN announced that it will cut up to 1,900 jobs because it is closing its site in Austria (in Steyr). After lengthy negotiations, the MAN production plant for trucks in Steyr was finally taken over by Investor Siegfried Wolf. The imminent closure of the production site first announced in early 2021 has caused massive protests by the worker's council and hard negotiations, that have prevented job cuts. Of the 1,900 employees, 75 percent agreed on wage cuts (up to 15 percent of the net wages) and accepted the new work contracts. The remaining 25 percent have opted for partial retirement, a severance indemnity or a transfer to the labour foundation that acts as a placement service. The newly named company "Steyr Automotive" has received a large commission on electric trucks (worth around €1billion). The new production programme is expected to start end of 2022.
MAN has also closed a plant in Germany and it is recorded as an EU case in the database (MAN2021 -EU).
Eurofound (2021), MAN, Merger/Acquisition in Austria, factsheet number 106377, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/106377.
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...
