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.
Barclays Group Operations Centre Lithuania, the British bank's strategic centre for technologies and services, is to dismiss around 340 employees in Vilnius at the beginning of 2019. The company has announced that it is leaving Lithuania and transferring its activities to the Indian leading technology company HCL Technologies. Barclays will close its Operations Centre in Lithuania, transferring 460 staff to HCL Technologies and offering redundancy packages to the remaining employees. Currently the Operations Centre in Lithuania employs 800 employees. The contract between Barclays Group Operations Centre and HCL Technologies is expected to be finalised during the first quarter of 2019.
Barclays Group Operations Center Lithuania, established in 2009, is part of the international Barclays financial services group, which provides personal, business and investment banking and asset and investment management services in over 40 countries.
HCL Technologies is an Indian multinational technology company offering integrated portfolio of technological products, solutions, services for their clients. The company operates in 43 countries and their consolidated revenues have constituted around US$ 8.2 billion in 2018.
Eurofound (2018), Barclays Group Operations Centre Lithuania, Closure in Lithuania, factsheet number 95998, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95998.
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...
