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.
Pin Group, a postal delivery service owned by publishing company Axel Springer, announced on 24 February 2008 that it is to cut 100 jobs at the insolvent regional mail delivery subsidiary at Mainz. Operations will stop in the first week of March when wage payments by the Federal Employment Agency will end. There is no information whether any of the affected workers will be reemployed by an external partner of Pin Group that is expected to continue operations shortly after.
Pin Group filed for insolvency for 37 out of its 91 subsidiaries when a minimum wage was extended to the postal delivery sector in November 2007 (Posted Workers Act). In these subsidiaries minimum wages are paid by the Federal Employment Agency for a duration of three months.
The company announced massive job cuts in most of its subsidiaries in the upcoming weeks. The 37 insolvent subsidiaries employ a total of 7,500 workers. FAZ quotes rumors saying that Pin Group aims to shut down its operations and to instead cooperate with delivery services of publishing companies which are not obliged to pay minimum wages. Handelsblatt says publishing companies are interested in a fragmentation of PIN Group and in buying regional subsidiaries.
Eurofound (2008), Pin Group, Bankruptcy in Germany, factsheet number 66333, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66333.
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...
