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.
The Finnish retailer of refurbished cellphones, Swappie, announces that up to 290 of its employees at the company’s refurbishment factory in Kalasatama, Helsinki, could be facing changes in their employment. The company plans to concentrate its refurbishment operations by moving repair operations outside Finland, mainly to Estonia and Germany.
Swappie has initiated cooperation negotiations with staff representatives, as an attempt to improve efficiency and cost savings. The company’s business activity has been affected by both rising inflation and decreasing web sales. Rising interest rates have in turn made financing harder to come by for growth-oriented companies such as Swappie.
Swappie was considering reducing its number of employees already in June 2022, by laying off up to 250 employees globally. Only a few months earlier the company had announced its goals to increase its staff by 1,000 employees by the end of 2022. During 2021 the company planned to hire up to 400 employees at its Helsinki office, and 200 people in Tallinn, Estonia, due to rapid business growth and expansion.
Swappie has around 1,000 employees globally, of which 503 were in August 2022 employed by the Finnish parent company.
Eurofound (2023), Swappie, Offshoring/Delocalisation in Finland, factsheet number 108249, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108249.
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...
