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.
The crisps and snack maker Golden Wonder, one of the best-known names in the food industry, has collapsed into administration, putting 850 jobs at risk. The privately owned company had faced fierce competition from the market leader Walkers. The company suffered losses of £10.8 million in 2004, on sales of £87.8 million and losses for 2005 are described as 'significant'. Given the continuing level of losses Golden Wonder's own label operations in Corby, Northamptonshire, will close with 350 people redundancies. The administrators would not put a timetable on the closure but a union official, Gary Holz, said: 'We're being told the factory will shut within a fortnight with some production moved to their Scunthorpe site'. Mr Holz criticised the way the redundancies were being handled, saying: 'The union was only informed today that the announcement was being made and as you can imagine our members have been left absolutely devastated.'
As well as its Corby plant, Golden Wonder employs 380 at its Scunthorpe factory and a further 120 at its Market Harborough headquarters.
Within one week of the announcement 195 jobs were saved at Golden Wonder's Corby factory after administrators for the troubled firm sold one of its main divisions. The Pringles Mini business has been sold to Northern Ireland firm Tayto Group for an undisclosed sum, safeguarding 195 jobs at the factory.
Eurofound (2006), Golden Wonder, Closure in United Kingdom, factsheet number 62768, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62768.
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...
