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.
Social media platform TikTok has announced that it will cut about 800 jobs worldwide.
The restructuring program will primarily affect content moderation teams. In the Netherlands, the company plans to close its moderation office in Amsterdam, affecting 300 jobs TikTok 2024-NL. Another 500 jobs will be cut in Malaysia.
The company shifts toward greater use of artificial intelligence (AI) for content moderation. The most prominent reason why these jobs are being cut is because TikTok wants to use AI for content moderation instead of employees, as 80% of harmful content is now removed automatically. Another reason for these job cuts in Malaysia is that the Malaysian government has decided that every big social media platform needs a license. This is necessary to have stricter guidelines for online content, according to the government. Despite increased AI usage, TikTok says human moderators remain necessary for interpreting nuanced and culturally specific content.
The company states that these changes are part of an ongoing effort to enhance its global content moderation strategy and improve efficiency.
Eurofound (2024), TikTok, Internal restructuring in World, factsheet number 202538, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202538.
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...
