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.
BrainRocket, an Israeli-owned technology firm, announced the shutdown of its Limassol offices in Cyprus and offered relocation packages to many employees. The company, which once employed around 1 500 staff locally, saw more than 1 000 affected by the restructuring as it moved most operations to Valencia and Malta.
The move was driven by a strategic decision to consolidate resources abroad while maintaining a reduced presence in Cyprus. Employees were instructed to work remotely or accept relocation, with many choosing to relocate to Spain. The closure of physical premises marked the end of BrainRocket’s large-scale activity on the island.
While the company did not formally confirm a full exit from Cyprus, the removal of its signage and cessation of office operations suggest that it has ceased substantial local operations. The restructuring reflects broader trends of tech firms relocating workforces across borders to optimise talent and infrastructure.
Eurofound (2026), BrainRocket, Offshoring/Delocalisation in Cyprus, factsheet number 301236, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301236.
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