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.
Veriff, a secure identification verification startup, announced that 63 employees, out of the company's 300 staff, will be made redundant. Overall, during the coronavirus pandemic, the company's business continued to grow due to new clients. In Europe and the USA, the verification process is mostly automatic, as opposed to Africa, where, the standards of ID photos require manual verification. As the latter market segment has currently collapsed, the company decided to lay off 20% of its employees, who have been involved in manual identification.
Veriff was founded in 2015. It grew rapidly in 2019 when the number of employees increased from around twenty to 300 over the year.
Eurofound (2020), Veriff, Internal restructuring in Estonia, factsheet number 100570, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100570.
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...
