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.
Syensqo, a Belgian specialty chemicals group, has announced the reduction of around 200 jobs worldwide.
So far, the company has revealed that 7 positions are expected to be cut in Belgium, where the company has offices in Audenarde and Kallo, and a headquarters and research centre in Brussels. Half of the job cuts will be achieved through retirements, while the other half will be partly offset by the creation of 25 new roles resulting from the 2023 demerger with Solvay.
The layoffs are part of an accelerated restructuring programme prompted by global economic uncertainty and trade tensions, particularly between the United States and China. The decision comes amid declining demand in key sectors such as electronics, automotive, and construction. The cost-saving plan aims to generate over €200 million in annual savings by the end of 2026.
Syensqo was established in December 2023, through the spin-off from Solvay. The company employs about 13,000 people worldwide.
In November 2024, Syenqo announced a plan to cut up to 350 jobs worldwide Syensqo 2024-WO.
Eurofound (2025), Syensqo, Internal restructuring in World, factsheet number 202832, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/202832.
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...
