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.
Finnish passenger airline company Finnair plans to cut 120 jobs out of 770 in management, executive, specialist and clerical positions in Finland. The restructuring is part of a broader plan to cut 200 jobs globally. According to Finnair’s press release, the company needs additional savings to restore its profitability after the changes in the operating environment, including the reduction in air traffic, Russia's invasion of Ukraine and the closure of Russian airspace. The job reductions will not affect flight crew or other operational staff. Those who lose their jobs will be offered social support to facilitate their re-employment. In addition, the company plans to reduce the size of its fleet.
Finnair is a Finnish passenger air transport company partially owned by the Finnish state. The company employs around 5,300 people worldwide.
Previous internal restructuring in Finland has been recorded in the ERM database, in 2022 200 job cuts were recorded as part of the global resturcturing connected to this case (Finnair-2022-FI), as well as in 2020 with 600 job cuts (Finnair-2021-FI).
Updated, 21/11/22
Finnair has finalised the cooperation negotiations, resulting in the dismissal 90 of managerial employees in Finland. Outside Finland, the company will cut 57 jobs. The dismissals will be implemented by the end of February 2023.
Eurofound (2022), Finnair, Internal restructuring in Finland, factsheet number 107524, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107524.
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...
