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 Norwegian salmon company Salmosea, with Salmar as its largest owner, has announced the closure of its operations at the slaughterhouse located in Flerengsstranda, Trøndelag, and the company will cut 112 jobs. While the company has attributed the closure to the newly introduced ground rent tax, it is worth noting that Salmosea required significant investments to maintain its competitiveness.
In response to the closure, Salmar has made agreements with SinkabergHansen, who will prioritize hiring former Salmosea employees in the event of increased demand. The company has extended the following provisions to all its permanent employees: a minimum of three months' notice for termination pay, assistance in facilitating the completion of professional certificates or other courses taken by employees, and a special allocation of NOK two million (equivalent to 170,000 euros) for employee support measures.
The employees express disappointment with the decision of closure, and a union representative from the Norwegian Union of Food, Beverage, and Allied Workers has criticized the insufficient involvement of employees in the decision-making process, as well as the use of employees in the company's opposition against the ground rent tax.
The Norwegian government's introduction of the ground rent tax on salmon in January 2023 has encountered strong opposition from the industry. Consequently, several companies, including Salmar, are adopting a cautious approach, reducing jobs, and withholding investments.
Eurofound (2023), Salmosea, Closure in Norway, factsheet number 109073, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/109073.
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...
