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 Swedish truckmaker Volvo has announced a worldwide restructuring to cope with the consequences of the coronavirus pandemic that will lead to the loss of 4,100 mainly white-collar positions. About 1,250 job cuts are planned in Sweden, while 463 other jobs will be cut in its French subsidiary Renault Trucks. According to Volvo, the pandemic and measures to curb the spread of the Covid-19 have severely impacted sales. 'The effects are expected to be lower demand going forward and we need to continue to adjust our organisation accordingly,' according to Martin Lundstedt, CEO of the Volvo Group. Volvo highhlighted that 'staff reductions would have been higher without various governmental support packages enabling short-term layoffs and other similar measures'. Job reductions would be carried out across the group but the details would depend on 'the local business situation, country legislation and labour market practices', adds the company.
Eurofound (2020), Volvo, Internal restructuring in World, factsheet number 100960, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100960.
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...
