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.
IT-consulting company TietoEVRY has announced plans cut up to 550 jobs globally – 160 which are in Sweden. The negotiations between management and unions started on 3 of September 2020 and are planned to be completed by the end of this year.
TietoEVRY was formed last year after the merger of two big IT-consulting companies Tieto (Finland) and EVRY (Norway). The announced reduction of headcount is one of the measures taken in order to strengthen the new company on a global and highly competitive market. According to Kimmo Alkio, CEO of TietoEVRY, the measures are part of the integration and consolidation process between the two companies. According to Alkio, these types of measures are always hard to go through with, but further he states that the company is strongly determined to support the affected employees. As of September 2020, it is unknown by which date the job cuts will be implemented.
TietoEVRY is one of the largest service and software development companies in the Nordic countries. The company has a total of 24 000 white-collar employees, working in 90 different countries. The head office is located in Finland. In Sweden, the company employs over 2800 employees in multiple locations. The company also plans to cut 90 jobs in Finland, 150 in Norway and 150 in the other locations.
Eurofound (2020), TietoEVRY, Merger/Acquisition in Sweden, factsheet number 101802, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101802.
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...
