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 mail order company Klingel closes and lays off 1,300 employees at its headquarters in Pforzheim. The mail order company had filed for insolvency in May. However, the Klingel group was unable to find investors. The reason for the insolvency is a decline in turnover and increased costs.
The layoffs will take place in three waves. The first part of the employees will be laid off in November 2023. The majority will be laid off at the end of January 2024, when the company ceases operations. Only a very small number will remain employed a little longer to process returns.
The trade union Verdi calls the closure a disaster. The works council is stunned and accuses the management. They had glossed over the situation for far too long and had not reacted in time. However, a social plan has already been negotiated.
Eurofound (2023), Klingel, Bankruptcy in Germany, factsheet number 200255, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200255.
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...
