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.
Following its US$12.4 billion (EUR 11.4 billion) takeover of Alstom and a large-scale restructuring which will see head office move from New York to Boston, General Electric intends to cut 6500 jobs from around Europe. Of these, 765 will be in France (although GE are on track to create another 1000 jobs in France in their place) and 1300 will be in Switzerland. Currently, 660 jobs are planned to be cut from the UK, although this number may be smaller as the restructuring takes place.
The job cuts will take place in GE's gas and steam power business activities, which have been declining in recent years. The takeover of Alstom brought GE's employees to around 370,000, which is being reduced through these measures. Through the Alstom acquisition and the cuts, GE hope to save around US$3 billion (EUR 2.7 billion) over the next five years.
Eurofound (2016), General Electric, Merger/Acquisition in European Union, factsheet number 86159, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86159.
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...
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