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.
Hankook, a South-Korean tire manufacturer, announced the creation of more than 450 new jobs in its Fejér County plant at Rácalmás. The expansion involves a newly built production line for truck and bus tires that will begin mass production in October 2024.
The project adds an annual capacity exceeding 800,000 units and enhances Hungary’s position as a key European supplier. Until now, Hankook produced the truck and bus tires sold in the European market in South Korea and China. The new production capacities built in Rácalmás will enable the company to shorten logistics routes, improve supply security for the European market, and reduce CO2 emissions associated with long-distance transport.
The new plant will operate as part of Hankook’s global network, which employs more than 3,000 workers in Hungary and maintains eight production sites worldwide.
This follows previous expansion phases at the same site, including a significant investment completed in 2014. Hankook Tyre Magyarország 2014 - HU
Eurofound (2026), Hankook Tire Magyarország, Business expansion in Hungary, factsheet number 301282, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301282.
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,...
