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.
The financially troubled mail-order company Neckermann Versand Österreich (NVÖ) was rescued from bankruptcy; however, some 120 employees stand to lose their jobs.
The company, a subsidiary of the German Neckermann Group, underwent restructuring in 2011 (see here) and was in a deep financial crisis. Due to an agreement between the liquidator, the suppliers and creditors and the financial investment of the German investor TopAgers, the company could be rescued from bankruptcy.
However, some 120 of the remaining 280 employees will lose their jobs. The current company will close down by Christmas and the business will be taken over by a new subsidiary of NVÖ. The financial officer of the company has announced that the workforce might be increased again in a few months' time and laid-off workers could be asked to come back if business is going well.
The union, Public Employment Service and the provincial government are working on an insolvency work foundation for the laid-off employees.
Eurofound (2012), Neckermann, Merger/Acquisition in Austria, factsheet number 74625, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/74625.
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...
