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.
First Bank, a Romanian bank owned and managed by U.S. investment firm J.C. Flowers & Co., has announced plans to close or merge 40 branches all over Romania. As a result, 379 employees will be made redundant. The bank aims to accelerate the process of digitalisation and redesign its internal processes in order to support the integration of new technologies, while aiming to increase its market share through the launch of streamlined products and through possible acquisitions.
First Bank is based in Bucharest and provides a broad range of products and services targeting both domestic and international customers, including retail, SME and corporate banking services. The bank operates through 100 branches and has a workforce of about 1,300 people.
Eurofound (2019), First Bank, Closure in Romania, factsheet number 97386, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97386.
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...
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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...
