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.
The American multinational corporation Arca Technologies, active in the sector of banking automation and cash management, announced 103 redundancies at its Ivrea branch. According to the company, the job cuts will be carried out without using the Italian short-time work scheme (Cassa Integrazione Guadagni) since redundancies are considered structural and not contingent.
Affected workers are mostly employed in the Research and Development department. Redundancies were motivated by the company as a consequence of a reduction of revenues despite significant investments.
The trade union FIOM-CGIL, which represents workers of the branch, rejected the proposed plan and organised a street blockade with the massive participation of workers.
Currently, the company employs 282 workers at the Ivrea branch.
Update, 08/05/2018: A preliminary agreement was reached on 9 May 2018 between the trade union and the company management. Job cuts will be reduced to 78 which will be implemented on a voluntary basis via early retirements and voluntary exits with economic incentives. As part of the agreement, the company will offer 'solidarity contracts' (contratti di solidarieta') to some 225 workers for 12 months. Such contracts put workers on reduced hours in order to protect their jobs. Training measures will be also provided to the affected employees. The trade union FIOM-CGIL expressed their satisfaction with the deal and argued that the positive outcome was reached thanks to workers' mobilisation and the support of local institutions.
Eurofound (2018), Arca Technologies, Internal restructuring in Italy, factsheet number 93998, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/93998.
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...
