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.
The Glanzstoff Group, which belongs to CAG Holding and is one of the world’s leading manufacturers of viscose yarn, is to cease production at its St.Pölten factory by the end of 2008 due to technically and economically unfeasible regulatory requirements. This was announced by the Glanzstoff directors Helmut Stalf and Dieter Kirchknopf at a press conference held in St. Pölten on 18 July 2008. After a fire in the exhaust fan in January 2008 the plant has been permitted to produce only at approximately 40% of capacity for emissions reasons. As a result continued operation of this factory would endanger the economic stability of the entire Glanzstoff Group, the directors contend. They explained that further reduced emission targets set by the authorities for the end of 2009 cannot be achieved for both technological and economical reasons. On 18 July 2008 management sent written notice of the planned dismissal of all the company’s 327 employees to the Labour Market Service (AMS). However, it is planned that the site will be retained as a holding location for the Glanzstoff Group, such that around 10 or 15 employees could further be employed there.
Eurofound (2008), Glanzstoff Group, Closure in Austria, factsheet number 66932, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66932.
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...
