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.
Club Med World, a company in the leisure and tourism sector, has announced that the group has decided to close Club Med World Paris to the Works Councils of Club Méditerranée SA and Club Med World France, which will lead to the loss of 101 jobs. A range of measures would be introduced to reduce the impact on the employees concerned and support outplacement initiatives.
Since 2003, Club Méditerranée has helped Club Med World to deploy a wide range of measures intended to reverse the revenue decline and restore profitability. Despite these efforts, the Club Med World "urban leisure" concept continues to show a loss. Moreover, it does not fit with the Group's strategic refocusing on its Villages business, which has seen a considerable improvement in operating margins over the past two years.
As for the Paris site, whose lease expires on 30 June 2010, no business model has been found to stem the losses, which total nearly EUR 40 million since its opening. Created in 2000 as part of a diversification strategy, the Club Med World concept was to be rolled out to the capitals of several countries. In 2003, the Club Med World in Montreal had to be closed because of substantial losses.
Eurofound (2009), Club Med World, Closure in France, factsheet number 69166, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69166.
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...
