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.
Bank of America, one of the main banks worldwide, is to cut from 30,000 to 35,000 jobs in the next three years (2009-2011). According to the bank, the reorganisation plan is mainly due to the recent merger with Merrill Lynch (September 2008) and to the ongoing economic / financial markets crisis.
The company envisages a large-scale recourse to the early retirement for the redundant workers.
In October 2008, the Bank of America had 307,000 employees worldwide.
Eurofound (2008), Bank of America, Merger/Acquisition in World, factsheet number 67716, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67716.
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...
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...
