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.
Ulster Bank has opened an initial voluntary redundancy programme which will result in 600 employees voluntarily leaving the Bank from March 2023, as part of its withdrawal from the Irish market. 450 employees in the 63 branches which are closing can apply for the redundancy package agreed with the Financial Services Union. Last year Ulster Bank agreed redundancy terms with the Financial Services Union, of five weeks’ pay per year of service, inclusive of statutory entitlements, or four weeks per year, plus statutory, dependent on which is greater. 350 personal banking employees are also eligible to apply for the first round of redundancy packages. Employees can also enter a period of redeployment where they can look for another role on either a temporary or longer-term basis, the bank said. Employees at 25 branches will transfer to Permanent TSB as part of a wider deal involving employees, infrastructure and the remaining balance of the Bank's loan book.
Eurofound (2022), Ulster Bank, Closure in Ireland, factsheet number 107892, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107892.
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...
