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.
Allied Irish Bank (AIB) is seeking to reduce its workforce by one quarter by the end of 2022. On 6 March 2020, the Bank signalled it is planning around 1,500 job cuts, which would bring its total workforce to below 8,000 in three years. The forthcoming redundancies will be pursued through retirement schemes, voluntary redundancy, and people pursuing careers elsewhere.
The Bank's CEO said the reductions were needed as the work intensity decreased in some core bank services, such as mortgage arrears.
AIB's profit before tax dropped by 60% to €499 million, largely because of €300 million for 'additional provisions to meet potential further liabilities', such as the Bank's involvement in the tracker mortgage controversy, according to the representatives.
Eurofound (2020), AIB, Internal restructuring in Ireland, factsheet number 99956, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99956.
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...
