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.
Sales and marketing software company Hubspot has announced a global restructuring plan which will reduce its workforce by 7% (500 employees). Impacted locations have not be specified, however, the company has the majority of its employees in Ireland (1000) and USA. The CEO has stated the restructuring is due to lower than expected growth throughout 2022 compared to 2021, unsustainable headcount and uncertainty regarding consumer demand in the short term.
The company has said it will comply with local legal and consultation requirements, but has not given information of the restructuring process for employees or the involvement of social partners.
Eurofound (2023), Hubspot, Internal restructuring in World, factsheet number 108358, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/108358.