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.
Kverneland Group, specializing in manufacturing of plows and other agricultural tools, headquartered in Klepp, Norway, has announced a job reduction equivalent to 70 full-time positions. The reductions affect both operators and white-collar workers at their production site in Øksnevad and are scheduled for August-September.
The restructuring decision was driven by a decline in order volume, attributed to high inventory levels and increased capital costs in distribution. At the time of the announcement, the company had already conducted temporary job reduction measures including furloughs, affecting around 70 full-time positions. Despite these measures, they are now facing the need for permanent cuts of about the same size. Selection criteria will be discussed with union representatives in the coming weeks and the company aims to implement voluntary measures to mitigate the extent of direct dismissals.
Kenneth Olsen, trade union representative at the affected factory, expressed that the ongoing situation is distressing and regrettable. The union and company management are in ongoing discussions to ensure a fair process in deciding which employees will be affected, prioritizing seniority, competence, and social circumstances.
Owned by the Japanese corporation Kubota, Kverneland Group has 2800 employees in 17 companies, of which 450 are located in Norway. The company has a diverse product range including agricultural tools for soil preparation, grass, sprayers, and spreaders, as well as associated electronics and digital services.
Eurofound (2024), Kverneland Group, Internal restructuring in Norway, factsheet number 201106, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201106.
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...
