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.
Banking group Credito Valtellinese (Creval) announced 400 redundancies (10% of its actual workforce) as part of its restructuring plan 'Run2 – Restart under new normality 2018/2020'. Of the 400 redundancies, some 25 jobs will be cut due to the merger with Credito SIciliano, which will enable savings in the bank's central functions. Some 275 posts will be eliminated as part of the closure of 67 branches which, together with the 27 branches closed in 2017 bring down the total number of branches to 350. Finally another 100 job cuts will result from an overhaul of the banking operations and a strengthening of online banking.
Negotiations on the restructuring plan have started on 27 February 2018. The company announced that it is willing to resort to its Solidarity Fund for 170 workers and to use mobility schemes for the affected workers.
Eurofound (2018), Credito Valtellinese, Internal restructuring in Italy, factsheet number 93557, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93557.
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...
