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 Spanish bank Banco Santander is planning to close 425 branches. On 6 April bank managers informed trade unions that this would imply the loss of 1,200 jobs (around 5% of its entire workforce). The measure is explained as a result of a drop in the revenues and the decrease in the use of the offices. According to the company, online services are replacing services offered in the offices. Due to this, the bank aims to keep only the largest branches. Management has stated it intends to offer voluntary redundancy and early retirement as part of the restructuring, but has not specified in what proportion. The company and the unions will start negotiations in the following days. According to the trade union UGT, the bank is taking advantage of the new labour legislation that allows cheaper dismissals.
Eurofound (2016), Banco Santander, Closure in Spain, factsheet number 86915, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86915.
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...
