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.
French multinational pharmaceuticals firm Sanofi is cutting between 1,400 and 3,000 research and development jobs worldwide. The precise number of redundancies is unclear at this point with union representatives reporting the cut of 1,400 jobs in Europe and the US while Sanofi has announced 3,000 cuts in September.
The CGT union representatives reported that 555 job cuts in Europe have been discussed so far with the European Workers Committee. 328 of the cuts would be taking place in Frankfurt, 164 in Hungary and 63 in Milan, Italy. Additionally, Sanofi recently bought Genzyme, a specialist pharmaceuticals manufacturer in the Netherlands and Britain: an unspecified number of jobs are under threat there. About 900 jobs are expected to be cut in the United States.
The cuts are said to be necessary due to the imminent expiry of several major patents. This most recent restructuring follows cuts earlier this year during the restructuring of Sanofi-Aventis' European subsidiaries (see previous case here).
Eurofound (2011), Sanofi, Internal restructuring in World, factsheet number 72705, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72705.
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...
