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.
As announced on 20. February 2020, the German chemical company Wacker Chemie plans to cut 800 jobs in Germany due to internal restructuring in the coming three years. The job reduction is part of a global saving programme, which aims to save up to €250 million in costs in order to strengthen the company’s competitive position on the market. Globally, Wacker will cut 1,000 positions. As the restructuring plan intends to reduce mostly administrative and supportive positions, it is expected that the headquarters in Munich will be heavily affected by the decision. Wacker plans to exclude compulsory terminations. Negotiations regarding a social plan will start shortly.
Wacker has 14,500 employees worldwide and 10,000 employees in Germany.
Eurofound (2020), Wacker Chemie, Internal restructuring in Germany, factsheet number 100065, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100065.
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...
The more employee monitoring resembles surveillance – with its systematic, continuous and detailed tracking of employees' activities, behaviours or communications – the greater the potential for infringement of both privacy and data protection rights. Although the EU General Data Protection...
Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
