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 US Nov Grant Prideco group has announced the closure of two plants in Sambre-Avesnois: 129 jobs will be cut. On 24 January, the group officially announced the closure of its plants at Aulnoye-Aymeries (ex-Vallourec Drilling) and Berlaimont (Tuboscope). A meeting with staff representatives took place on 28 January.
'In an increasingly tense market context, we have to react without delay and take difficult decisions to address the structural overcapacity situation we are facing and ensure the sustainability of our activities', explains the company in a press release. According to the US group, the demand for drill pipes, which was the core business of the two sites, is decreasing and overproduction would lead to overcapacity. The production volumes achieved at the Aulnoye-Aymeries and Berlaimont sites will be transferred to other sites of the group, mainly in the United States and China. The two plants were sold 14 months ago by the Vallourec group.
Some trade unionists are denouncing an arrangement that enabled Vallourec to 'sell off' the two plants in order to avoid being held responsible for the closure. They believe that the American group took the know-how and left. Local elected representatives are mobilising to demand an intervention of the Minister of Economy.
Eurofound (2020), Nov Grant Prideco France, Offshoring/Delocalisation in France, factsheet number 99712, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99712.
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...
