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.
Siemens, the German electronics and electrical engineering company, announced in February 2015 that 1,700 jobs in total in Germany would be cut in the company's power and gas division. In addition, talks still were to proceed in other areas, such as how many jobs would be lost in Germany at Dresser-Rand after it was taken over by Siemens. Siemens acquired US compressor manufacturer Dresser-Rand for $7,8 billion in June 2015.
Siemens said it would invest and hire new employees in other sections to compensate for the job losses. The restructuring programme is the largest since 1990. However, there have been some job restructurings in recent years (see Siemens 01-2012, Siemens 06-2012, Siemens 09-2012 and Siemens 10-2013). Currently, 340,000 people work for Siemens, 110,000 of them in Germany.
Updated 1-10-2015:Siemens will cut 1,100 out of 13,000 jobs in its power and gas division. These are 600 jobs less than originally planned in February 2015. The job cutting is part of the restructuring programme “Vision 2020” which started in May 2014 and provides for 7,400 jobs being cut worldwide by 2020.
Eurofound (2015), Siemens, Internal restructuring in Germany, factsheet number 78314, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/78314.
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...
