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 Slovak subsidiary of Brazilian producer of compressors and cooling systems Embraco plans to cut around 200 jobs at its factory in Spiska Nova Ves. The planned redundancies are attributed to the long-term lower demand due to the COVID-19 crisis. According to the CEO Marcelo Borba, the factory has been struggling with a rapid fall in orders for over a month and in April and May 2020 it had to suspend its production several times.
The factory has around 2,150 employees and the planned job cuts should secure work and pay for the remaining workers. The company also applied for state subsidies, but this help is not enough to cover all losses. Embraco is part of the Nidec Global Appliance global division.
Updated, 5/10/20: In the meantime, the situation in the firm is stable and it has partially recovered from the fall in orders during the first wave of the COVID-19 pandemic - in Q2 2020 demand for products fell by over 35%. Recently, the plant re-employed 80 of the 240 previously dismissed workers.
Updated, 15/04/2021: Till now, the plant in Spisska Nova Ves has recruited around 400 employees, out of which 90 were re-employed among employees made redundant in 2020. The recruitment is attributed to the rising number of orders. Employment in the plant has reached the same level as before the redundancies - 2,150 workers.
Eurofound (2020), Embraco Slovakia, Internal restructuring in Slovakia, factsheet number 100804, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100804.
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...
