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.
ThyssenKrupp System Engineering, a subsidiary of the German steel manufacturer ThyssenKrupp, announced that it will cut 800 jobs worldwide, including 500 in Germany. The restructuring programme will affect production and administrative staff in the automotive part of the business. Negotiations with employees’ representatives are expected to be carried out, and a collective agreement will be signed by spring 2021.
The job cuts come on account of the impact of the COVID-19 pandemic, as the company recorded a drop in demand for automotive products on international markets. The head of ThyssenKrupp said they do not expect output figures in the automotive industry to return to pre-crisis levels for at least two to three years. Parts of the automotive systems are open for partnerships or sell.
ThyssenKrupp System Engineering operates in 12 countries and employs 4,600 worldwide.
Eurofound (2020), ThyssenKrupp System Engineering, Internal restructuring in World, factsheet number 102183, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102183.
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...
