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.
As announced on 15 January 2025, the online platform for luxury watches Chrono24 is cutting 110 jobs globally, including 75 at the headquarters in Karlsruhe, Germany. This represents a quarter of the workforce of 300 in Karlsruhe. Affected employees will be offered "comprehensive severance packages". The goal of the layoffs is to make the company more efficient and streamline hierarchies. The company has been profitable for years. However, the market situation has become increasingly challenging. The luxury goods business has declined after the boom during the COVID-19 pandemic.
Chrono24 currently employs 460 people worldwide, and after the restructuring, it will have 350 employees.
Eurofound (2025), Chrono24, Internal restructuring in Germany, factsheet number 202234, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202234.
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...
