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 Estonian media concern Kalev Meedia laid off all of the 200 employees during January - June 2009 due to bankruptcy.
In January the company announced of reducing 150 jobs by closing down ten magazines and reducing personnel of the TV-channel Kalev Sport and the company´s news portal. The aim of the job cuts was to lower expenses in view of the company´s downward revisions of future prospects. Still, in January some activities were hoped to be continued.
In March it was announced that the company had not paid out redundancy benefits to the persons laid off earlier in the year. By the end of March it was clear that the company will not be able to continue and applied for declaring bankruptcy. According to the comments of the representatives of the company in the media, the reasons of bankruptcy were the reducing advertisement market as a result of the economic recession in 2008 and incapability of finding alternative financing.
For the previous employees of the company the bankruptcy procedure ended in June 2009 when the Unemployment Insurance Fund paid out employer insolvency benefits to 131 ex-employees in the total sum of EEK 5.6 million (about €358 thousand). The rest of the 60 employees were not appointed insolvency benefit, thus it is expected that they were paid all redundancy benefits upon the initial redundancies in the beginning of the year.
Eurofound (2009), Kalev Meedia, Bankruptcy in Estonia, factsheet number 68489, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68489.
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...
