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.
Viesnīca Latvija, the operator of the Radisson Blu Latvija hotel in Riga, reduced its workforce in 2020 as the COVID-19 pandemic and travel restrictions sharply reduced demand. During the state of emergency, the hotel temporarily closed its bars, restaurant, conference centre and spa, while continuing to provide accommodation.
Employees were initially furloughed or placed on leave. By September 2020, the hotel reported having cut 50% of its workforce. Average employment fell from 262 employees in 2019 to 98 in 2020. The restructuring aimed to reduce costs amid low occupancy and substantial expected losses.
Eurofound (2020), Viesnica Latvija, Internal restructuring in Latvia, factsheet number 301088, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301088.
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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...
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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...
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