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.
On 16 October 2024, SNOP Automotive Gent, a manufacturer of bodywork components and supplier to Audi Brussels, announced its intention to close during a works council meeting. The closure threatens the jobs of 150 employees.
The decision follows uncertainty surrounding the future of Audi’s Brussels plant in Vorst, which is set to cease production of the Q8 e-tron without a successor model. The lack of new investment has placed 3,000 jobs at risk at the Audi site, with knock-on effects for its suppliers.
The closure came at a surprise to the trade unions given the company's strong financial results. Consequently the unions are calling for a robust social plan for the affected workers.
Formerly known as TOWER Automotive, the company was established in Gent in 2002 and initially supplied parts to Volvo Cars.
Eurofound (2024), SNOP Automotive, Closure in Belgium, factsheet number 203646, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203646.
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...
