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.
Finnish communication technology company Nokia is to dismiss 219 employees as part of a corporate restructuring plan. Nokia plans about 15,000 job cuts worldwide, after the acquisition of telecommunications equipment company Alcatel Lucent.
The management announced that further details will be issued after consultations with unions and the government that will commence by the end of April 2016.
The unions called for an active involvement of the Ministry of Economy and Development and announced assemblies to discuss actions to undertake. According to unions, the recurrent dismissals hide an ongoing delocalisation process.
For previous restructuring announced by Nokia and Alcatel Lucent, see Nokia Solutions and Networks ItaliaIT-2014 and Alcatel Lucent IT-2014.
Update, 08/09/2016: After negotiations held at the Ministry of Economic Development and a referendum among workers, the management of Nokia finalised an agreement with unions avoiding the previously announced lay-offs. Up to 170 employees will be placed on the Wages Guarantee Fund for 12 months on rotation. In the meantime, measures promoting internal and external relocation will be activated. The company will also offer incentives for voluntary dismissals without setting any minimum target.
The management and the unions will meet over the next months in order to monitor the outcomes of the agreement.
Eurofound (2016), Nokia, Merger/Acquisition in Italy, factsheet number 87313, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87313.
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...
