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.
On 18th December 2006, it was announced the merger of Norway's state-owned oil company Statoil and the oil and natural-gas division of Norsk Hydro (also partly state-owned companies) with the loss of up to 2,500 white collar jobs. Together with the unions, the company implemented a merger plan within onshore offices throughout 2007, amongst others with the aim of reducing the workforce as of 1st October 2007. The job losses were implemented through voluntary early retirement for employees aged 58 years and older (with pensions equal to 70% of the wage). Around 1,500 of the 1,700 who were eligible for early retirement retired. The number of temporary workers and consultants were also reduced. In 2008, the second phase of the integration would be carried through in the offshore installations and onshore industrial plants.
Eurofound (2007), StatoilHydro, Merger/Acquisition in Norway, factsheet number 67371, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67371.
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...
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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...
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