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.
Corus Packaging Plus (CPP), a supplier of light gauge steel for packaging and non-packaging applications, announced the closure of its factory at Bergen with the loss of 260 jobs. The job losses are attributed to the difficult market situation for packaging steels.
On 18 April the Board of the Norwegian subsidiary decided to close the Norwegian factory which has lost approximately NOK 150 million in 2006 and 2007. More recently, the group announced it would cut capacity on tinplate production lines by 150,000 tonnes before the end of the year.
The management announced to the media that the company now will discuss alternative solutions with the union, among others if there are options for alternative production at the plant. The employees will also be offered severance pay and early retirement pension.
According to the unions there have been continuing discussions over the last years on improving productivity, and they have been told that the Norwegian factory has been a pioneer within the group. The possibility of a closure was not put forward until the day before the Board meeting, and the unions accused the management of having hidden their real agenda for months. The final decision will be taken at the Board meeting scheduled for 20 May.
Eurofound (2008), Corus Packaging Plus Norway, Internal restructuring in Norway, factsheet number 66558, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66558.
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...
