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.
Chinese social media company Tik Tok is to make 250 employees redundant in Ireland. The company announced in February 2024 that Irish jobs would be lost as part of global restructuring plans.
The company entered a period of consultation with staff and it was hoped that many of the roles impacted by restructuring could be redeployed internally. In April 2024, it was reported that 250 jobs would be cut in Ireland. The company has said that the job losses will mainly impact the Training and Quality team.
Tik Tok employed approximately 3,000 people in Ireland prior to the job cuts.
Eurofound (2024), Tik Tok, Internal restructuring in Ireland, factsheet number 201391, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/201391.