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.
Canadian multinational, Shopify, has announced plans for a global restructuring that will include laying off 2,000-2,300 (20%) employees from its workforce. While the company has not detailed the departments which will be most impacted, it has announced that the 'dawn of the AI era' is playing a large role in the motivation to reduce and 'simplify' its workforce. The company has stated that restructuring policies for employees will include 16 weeks severance pay, an additional week per year employed and medical benefits for the same duration.
Eurofound (2023), Shopify, Internal restructuring in World, factsheet number 109061, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109061.