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.
Pfizer, the world's largest drugs firm and the maker of Viagra, is to cut its UK workforce by almost 1,000 jobs. The company is to cut 400 jobs at a manufacturing site in Kent and has put a further 571 positions in doubt by putting another plant in Morpeth in Northumberland up for sale. The plant in Sandwich, Kent, goes back to the second world war when it was the site of the first mass production of antibiotics. Pfizer said the jobs were going because of an "exhaustive" review of its manufacturing sites following its $60 billion (£32 billion) acquisition of rival Pharmacia in 2003. It has already cut thousands of jobs around the world, including in the UK, following the merger.
The firm employs more than 6,000 people in the UK, nearly half of whom are in research. The government is trying to encourage science-based industries in the UK but the activities of extreme animal rights activists has led to some firms threatening to move out of this country.
Eurofound (2005), Pfizer, Internal restructuring in United Kingdom, factsheet number 61059, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61059.
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...
