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.
Insurance company Axa has announced 560 job cuts nationwide, including 120 at its largest base in Ipswich. It is hoped that this can be achieved through "natural wastage" and redeploying staff. The cuts were attributed by the company to a need to focus on the most successful and profitable product lines. Chief executive Philippe Maso said: "Although I am sad that we had to take such extreme measures, I am utterly convinced they are right to build a stronger and more efficient business for the future." Rob MacGregor, national officer for Unite said "Unite will be meeting with our members over the coming days in order to discuss with them the impact of this news. Now the priority of the union is to work with Axa in order to minimise any compulsory redundancies through opportunities for redeployment within the Axa UK group." No details were given on the number employed by the company or on the timescale for these job losses.
Eurofound (2009), AXA, Internal restructuring in United Kingdom, factsheet number 69082, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69082.
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...
