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.
Austrian and partly Hungarian state-owned Erste Bank Hungary plans to cut staff by 7-9% with the aim of reducing costs by 10% for 2018. As a result of the cost cutting measure 210-270 employees will be let go from the current 3,000 strong staff by September. The layoffs will affect both customer service and back office positions, more of the latter.
Erste Bank Hungary already made significant layoffs in 2012, when more than 400 employees were let go in a restructuring which saw the closure of almost a quarter (43) of the bank's offices (see here).
Eurofound (2017), Erste Bank Hungary, Internal restructuring in Hungary, factsheet number 90968, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90968.
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...
