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.
Car rental firm Avis Europe planned to cut around 200 jobs as it grapples with tough competition. Europe's biggest car rental firm said most of the job losses would be at its European headquarters and in its UK and German operations. 'This has been a difficult decision, but necessary to ensure that we deliver on the goals set out in our recovery strategy and put Avis on the right track for the future,' Chief Executive Murray Hennessy said in a statement. In a further drive to cut costs Avis, which operates under its own name and the Budget brand, said it would renegotiate and exit certain non-fleet supplier contracts in telecoms, systems, transportation and professional services. Avis said the restructuring would generate anticipated savings of around 7 million (£4.8 million) in 2006, 25 million in 2007 and 30 million per year thereafter.
Eurofound (2006), Avis, Internal restructuring in European Union, factsheet number 62961, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62961.
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...
