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.
Royal Bank of Scotland (RBS) announced plans to close its contact centre in Southampton by the end of 2019, resulting in the loss of 243 jobs. The closure of the Southampton site follows the job cuts in the bank's operations in Greenock. While the decision to cut jobs at Greenock was attributed to changes in customer preferences, the decision to close the Southampton call centre appears to be related to the lease on the premises, which is due to expire in May 2020. The national officer for the Unite union has called on the bank to reconsider its decision. According to the report, the bank intends to create new roles in Manchester and Southend, but considering the distance of these sites from Southampton, the solution may be unrealistic for many employees even if redeployment were to be offered.
Eurofound (2019), Royal Bank of Scotland, Closure in United Kingdom, factsheet number 98247, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98247.
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...
