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.
AKG Acoustics, manufacturer of headphones, microphones and audio products announced to shut down its production site in Vienna, affecting 131 employees.
AKG was founded as a family business in 1947 in Vienna and was taken over by the US-based electronics cooperation Harman International Industries. In recent years the company has decreased staff number, leading to dismissals of 100 employees in 2005 (Eurofound reported) but also in 2009, when parts of the production where off-shored to China. Back then, the company claimed that this step was necessary to secure the production site in Austria.
According to the company's management, the recent step was necessary because of growing competition on the market. The site will be closed by June 2017 making 131 employees redundant. According to newspaper reports some employees have been offered jobs at other branches of Harman in Germany or Hungary. Trade unions are preparing for the negotiation of a social plan for employees, as many of the workers are over 50 years of age.
Eurofound (2016), AKG Acoustics, Closure in Austria, factsheet number 88720, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88720.
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...
