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.
HETA Asset Resolution, a so called 'bad bank' owned by the Republic of Austria, announced to cut 100 jobs in Klagenfurt, Carinthia, by early 2017.
In 2014, Heta took over the non-performing assets of Hypo Alpe Adria bank which was nationalised in 2009 in order to prevent a bank collapse. Heta is aiming to dispose all of its assets by 2020. After fulfilling its task, the institution will be closed, making it necessary to reduce staff over the next couple of years. Only last year 150 jobs were cut. Now, Heta has registered 100 employees with the Public Employment Service's (AMS) early warning system. Dismissals will be implemented during the ongoing year and completed in early 2017. Management and works council have already agreed on a social plan with a special focus on long-time staff. According to the AMS prospects on the job market are difficult for affected employees despite the fact that many of those affected are highly qualified.
Eurofound (2016), HETA Asset Resolution, Closure in Austria, factsheet number 86658, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86658.
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...
