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.
Oil Company BP confirmed plans to cut between 270 and 307 jobs in its refinery in Gelsenkirchen by 2020. BP already announced these plans in January, however, at the time the company did not mention any concrete numbers or locations.
The management assured that dismissals due to operational reasons are to be avoided. The executive board and the works’ council are currently negotiating severance packages which will feature retirements, outsourcing and termination agreements.
The main cause of these job reductions are continuous decreasing oil prices and resulting losses in 2015. In additiion, competition is becoming increasingly fierce in the petrol station and refinery market across Europe. Nevertheless, there is also an increase in demand for engineers at BP's site in Gelsenkirchen. About 20 new positions will be filled. Moreover, there are no indications for further redundancies.
BP currently employs 5,500 staff in Germany.
Update 04/04/2016:
On 31st March, BP reported on the results of the negotiations with employee representatives. In total, 580 jobs will be cut in Germany. Further job cuts are a result of the disbanding of the Ruhr Oel Venture, a joint venture between BP and the Russian oil company Rosneft. At the company's administration site in Bochum 210 jobs will be cut by the end of 2017. A further 370 jobs will be cut in the refineries in Gelsenkirchen (270) and Lingen (100) by the end of 2020. Dismissals due to operational reasons are to be avoided. Severance packages for employees seeking to leave the company voluntary are being negotiated.
Eurofound (2016), BP, Internal restructuring in Germany, factsheet number 86489, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86489.
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...
