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.
According to press reports, Piraeus Bank has announced a new plan for voluntary redundancies for its employees. Applications start from 30 October 2020 and finish on November 18. The plan targets the exit of 1,000 employees out of a total number of 11,000 persons employed in the bank’s domestic operations or 9% of the personnel.
The new programme provides for a one-off severance amount equivalent to at least 20 monthly wages (for those under 39 years old) of the gross salary of the employees, determined by criteria such as age, years of service, job location and role. It also allows those availing of voluntary departure to retain their health plan entitlements for another five years.
Eurofound (2020), Piraeus Bank, Internal restructuring in Greece, factsheet number 102229, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102229.
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...
