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.
Abbott, a multi-national manufacturer of pharmaceuticals, has announced that it is to close its site in Galway with the loss of 500 jobs. The job losses will begin to be implemented from January 2008, and the site will be closed by the end of September 2008. Approximately 50 of the affected staff will be redeployed to the group’s site in Clonmel which produces a similar products. Management at the group attribute the closure of the site to the need to cut excess manufacturing capacity in order to become more efficient. Management at the plant have stated that they will offer affected workers seven to eight weeks of pay for every year of service. The Galway site produces stents that are used to widen clogged arteries in heart disease patients, and catheters.
Abbott employs approximately 3,300 in seven sites in Ireland. The closure of the Galway site is part of a global restructuring plan by the group to cut 1,200 jobs internationally.
Eurofound (2007), Abbott, Closure in Ireland, factsheet number 66097, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66097.
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...
