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 Greek public television and radio broadcasting company, the Hellenic Broadcasting Corporation (ERT) is closing down and thus 2,902 people will be made redundant. On June 11 2013, the Greek government’s spokesperson announced the immediate closure of the company through a legislative decree. The closure affects all the staff (2,656 permanent employees and 246 fixed term contract staff) working at 5 TV channels, 29 radio stations, the ert.gr website, the ERT digital archive, and the Radiotileorasi magazine, as well as the National Symphonic Orchestra and the Contemporary Music Orchestra. As announced, corruption and mismanagement are the key reasons for the decision. Additionally, all the employees are going to be compensated and will have the chance to apply for a job at the new organization (which will launch its operations at a later stage under a new organizational structure and with considerably fewer employees – around 1,200 people). The decision for the closure was made under the framework of the governmental commitment to the bailout creditors for major restructuring in the public sector. The POESY media trade union federation accused the government of sacrificing the broadcaster in order to satisfy troika demands. The country’s largest employee unions GSEE and ADEDY held a large 24-hour strike on Thursday, June 13th. Until now journalists and technicians of public television ERT continue to broadcast program despite the government decision and the order to evacuate the building.
Updated, 18/06/13 Greece’s top administrative court has ordered the state broadcaster ERT back on air while it is restructured.
Eurofound (2013), Hellenic Broadcasting Corporation, Closure in Greece, factsheet number 75518, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/75518.
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...
