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.
Severstal Distribution, a Latvian steel-processing and distribution company owned at the time by Russian steelmaker Severstal, notified Latvia’s State Employment Agency of planned collective redundancies in April 2022. Employment fell from 251 employees to 141 in 2022, a decrease of 110. The restructuring followed sanctions against Severstal’s main shareholder, which disrupted the company’s operations and led to the suspension of steel exports to the European Union.
Updated, 21/04/2023 In April 2023, Italy’s Marcegaglia Carbon Steel acquired the Latvian business following approval from the Latvian government and the European Commission.
Eurofound (2022), Severstal Distribution, Internal restructuring in Latvia, factsheet number 301092, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301092.
While large-scale redundancies at major manufacturers dominate the headlines, the true impact of this restructuring is being felt most acutely within the wider supply chain. This article examines the uneven distribution of job losses, the growing geographical shifts in production,...
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,...
