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.
Global bank HSBC says it expects to 'offshore' more clerical jobs from Western countries to Asia in order to cut costs, a top executive says. The world's second-largest bank already has 13,000 workers in call centres around Asia. But chief operating officer Alan Jebson said he would be very surprised if less than 25,000 people were working in them by 2008. David Fleming, Amicus's national officer for the finance sector, said: ‘Two thousand HSBC jobs have already been offshored from the UK this year and a further 1,000 are going abroad next year. The statement that there has been no impact on customer service is wrong. Problems are being experienced and we are working with the company to try to resolve them.' HSBC, one of the world's biggest banks, is creating 500 jobs a month in its service centres in 10 locations in Asia and saves $20,000 for every job moved.
Eurofound (2005), HSBC, Offshoring/Delocalisation in United Kingdom, factsheet number 61278, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61278.
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...
