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.
Taxi app company Beat has announced the closure of all global operations, creating a total of 900 job losses. Of the total company workforce, 100 people were employed in Amsterdam to develop and maintain the app, with the rest of the workforce spread between Latin American countries where the taxi service was in operation.
The lack of profitability for shareholder expectations, unfavourable market conditions and internal turnover are all cited as reasons for the discontinuation of Beat. Social partners have not been referenced in this closure process, however the company has stated internal processes are in place to help employees transition to partner companies, such as Free Now.
Founded in 2011 in Greece, Beat was acquired by Mercedes-Benz Group in 2017 for €40 million. Subsequently, the Group entered a joint venture with BMW to create a platform division, Free Now, where Beat merged with other brands to join the platform division. According to the company, 26 million customers and 800,000 drivers have used the platform to date.
The restructuring in The Netherlands has previously been recorded in the ERM Events database in 2022 (Beat-2022-NL).
Eurofound (2022), Beat, Closure in World, factsheet number 107762, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107762.
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...
