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 Finnish IT services company Tieto has concluded employer-employee negotiations in Finland and will terminate up to 190 employees across the country. The job reductions will affect all business units apart from product development and industry software services and will take place by the end of 2019.
The dismissals are part of a global restructuring of operations, announced in April 2019. According to the strategy, the company aims at annual gross savings of €30-35 million by removing matrix organisational structures and introducing ‘a simplified and increasingly agile operating model’. Around 700 job vacancies are expected to be affected globally. In Czechia, 250 jobs were cut (see ERM factsheet from April).
Tieto has some 3,700 employees in Finland and approximately 15,000 globally.
Eurofound (2019), Tieto, Internal restructuring in Finland, factsheet number 97783, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97783.
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...
