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.
ECCO, a Danish footwear manufacturer, is closing its production facility in Martin, Slovakia, resulting in the loss of more than 600 jobs. The company, which has operated in the region for over 25 years, informed its employees of the decision earlier this month, leaving many in shock.
According to ECCO representatives, the primary reason for the closure is the steep increase in production costs in Slovakia, particularly wages, which have become uncompetitive compared to other regions. Rising energy prices and the costs of materials and logistics also contributed to the decision.
The layoffs will affect nearly all employees at the site, many of whom have worked at the factory for decades. The company has stated it will comply with all legal obligations, including severance pay.
The local job market is expected to struggle to absorb such a large number of unemployed workers. Some nearby companies have expressed interest in hiring, but opportunities remain limited.
ECCO’s departure comes as part of a broader trend of foreign investors reevaluating their presence in Slovakia due to increasing operating costs.
Eurofound (2025), ECCO Slovakia, Closure in Slovakia, factsheet number 202666, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202666.
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...
