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.
Citigroup, one of the main world leaders in the banking sector, is to cut 500 jobs in Italy (out of 1,000 employees) by the end of 2009. The job losses will affect the private banking business unit, which has 65 branches round the country. Consequently, this unit will be closed. Once the restructuring has been completed, Citigroup's business in Italy will be concentrated on corporate and investment banking and global transaction services.
This reorganisation plan is part of the US banking group's global restructuring programme, which envisages selling (or closure) of non-core assets of the group. Citigroup has suffered billions of dollars of losses during the global financial crisis.
Eurofound (2009), Citigroup, Closure in Italy, factsheet number 69432, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69432.
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...
