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.
Spotify, the Swedish music streaming company, has announced plans to lay off 600 employees from its global workforce. The company employs approximately 5400 people in USA and 1900 in Sweden. What units and where the job cuts will be made has not been announced, however, the CEO has stated that internal communication has begun. The cuts are part of a strategy to avoid further drops in Spotify's share market value as growth goals are not being met coming out of the Pandemic. In particular, as revenue has dropped significantly for the company. Spotify has announced the redundancies will amount to €35 to €45 million of severance-related charges and that employees will receive an average of five months of severance and continued health-care coverage, as well as immigration support for workers whose immigration status is connected with their employment.
Eurofound (2023), Spotify, Internal restructuring in World, factsheet number 108231, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108231.
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...
