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.
Royal Dutch Shell, the British – Dutch multinational oil company, has announced that it plans to cut 7,000-9,000 jobs, approximately 10% of its global workforce by the end of 2022, as part of a major restructuring. The restructuring is designed to save costs in response to the global transition to clean energy in the wake of the COVID-19 pandemic. As Shell employs 6,000 people in the UK, the job cuts are expected to affect an estimated 500-650 jobs.
The company’s chief executive said that by the end of the restructuring, Shell would become 'a simpler, more streamlined, more competitive organisation' and added that 1,500 people had already taken voluntary redundancy.
Shell is one of the largest companies in the world, employing 83,000 people worldwide. It has announced that it aims to become a net-zero emissions business by 2050.
Updated, 24/1/2021: Shell has announced that it will cut 330 jobs at its UK-based North Sea oil and gas operations by the end of 2022, as part of the global restructuring announced in Autumn 2020. The redundancies will primarily affect the company’s office in Aberdeen, Scotland, reducing the number of people employed in the Aberdeen office to 1,000.
Eurofound (2020), Shell, Internal restructuring in United Kingdom, factsheet number 102109, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102109.
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...
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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...
