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.
Finnish communications company Nokia Corporation will end phone assembly in Europe, affecting 4,000 jobs in Hungary, Finland and also in Mexico.
Nokia will transfer its mobile phone assembly operations from Europe to Asia by the end of 2012. The three plants affected are in Salo, Finland; Komarom, Hungary; and Reynosa, Mexico. The plants will not be shut down, but will focus instead on smart phone product customisation for the European and American markets.
Relocating phone assembly to Asia is expected to reduce costs and to enable Nokia to reach markets faster: many components suppliers are based in Asia and the customer base in the continent is growing. Similar offshoring is reported to have occurred in competitor companies such as Samsung, Motorola and Sony Ericsson.
The cuts are additional to around 10,000 layoffs announced by Nokia last year, in April and in September 2011. The firm says that it will provide locally-tailored support programmes that will include financial support and help for employees to find new jobs.
Eurofound (2012), Nokia, Offshoring/Delocalisation in World, factsheet number 73083, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73083.
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...
