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 UPM, engaged in the bio and forest industry, is to cut 125 jobs at its site in Steyrermühl, Upper Austria. The company, which employees 19,600 staff world wide, announced to cut back its production capacities all over Europe due to a weakening demand for paper products. For Steyrermühl this means that one out of six paper machines currently in operation will be shut down in the first quarter of 2017. Similar measures will be implemented at UPM's site in Augsburg, Germany. UPM expects annual savings of up to €30 million from this step.
Management and trade unions have started negotiations on a social plan for affected workers in Steyrermühl. From the 125 jobs between 20 to 30% should be reduced trough attrition. Management has also established contact with the local office of the Public Employment Service (AMS).
Eurofound (2016), UPM-Kymmene, Internal restructuring in Austria, factsheet number 89041, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/89041.
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...
