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.
An Athlone-based pharmaceutical company is to close with the loss of 165 jobs. Conor Medsystems, which was taken over by pharmaceutical giant Johnson and Johnson in February 2007, blamed the commercial failure of a coronary medical device called the CoStar stent for the closure. Tests in the US revealed that the stent, a tube which helps the blood to flow through restricted arteries in the heart, proved to be an inferior product to one made by its rival Boston Scientific and that it also slightly increased the risk of heart failure or a repeat procedure after eight months. The Athlone factory has operated since 1999, less than ten years. Workers were given paid leave two weeks ago after the company withdrew the stent from all its markets. Workers have notice of 30 days to negotiate their redundancy packages and have expressed their frustration that despite recent difficulties, Conor Medsystems had continued to recruit staff until one week before the announcement. Many workers say that because of the specialised nature of their work, it will take them a long time to get secure employment elsewhere. However, the company said it would put in place an extensive support programme to help employees to find alternative employment.
Eurofound (2007), Conor Medsystems, Closure in Ireland, factsheet number 65382, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65382.
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...
