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.
In July 2008, the Austrian Siemens Österreich subsidiary announced plans to cut 500 out of its then 8,000 jobs as part of the Siemens group current worldwide restructuring programme. On 26 September 2008, management and the works council agreed on a further redundancy programme affecting additional 350 employees. The redundancies will affect, in particular, the sales and administration departments across the country. According to the newspaper 'Der Standard', a social plan has been concluded, in order to carry out the necessary redundancies in a ‘socially acceptable’ way, by, for instance, providing severance pay schemes, early retirements, flexible part-time solutions for older employees, outsourcing and internal job rotation. Prior to the negotiations over a social plan, both the trade unions and the works council had said they do not understand the motives behind this restructuring, since the company has yielded profits for years.
Eurofound (2008), Siemens Österreich, Internal restructuring in Austria, factsheet number 66847, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66847.
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...
