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 Finland-based energy company Fortum has announced that it will cut 130 jobs worldwide. The layoffs are part of the efficiency programme launched in November 2023.
The company is to reduce employment in its Customer Solutions business unit and IT unit. The sources report that about 1,080 employees in Finland, Sweden, Norway and Poland are within the scope of the collective consultation process. According to a preliminary estimate, the company plans to cut up to 130 positions. The efficiency programme aims to implement the company’s new structure and operating model as well as improve profitability and ensure competitiveness. Fortum is to reduce its annual costs by €100 million gradually until the end of 2025.
Headquartered in Finland, Fortum operates in Finland, Sweden, Norway, Denmark and Poland, employing about 5,000 employees. Fortum’s activities include production and distribution of electricity and heating, management and maintenance of power plants and other energy-related services. Fortum is Europe's third-largest producer of carbon-free electricity, Europe's second-largest producer of nuclear power and one of the largest gas suppliers.
Eurofound (2024), Fortum, Internal restructuring in World, factsheet number 200714, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200714.
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...
