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.
As a consequence of the merger of the two oilfield services companies Aker Solutions and Kværner, 350 jobs will be cut in the administration of the 'new' Aker Solutions. The majority of these cuts will be in Norway. The company will try to provide alternative work internally in the organisation for those affected, and states that it is too early to provide a number of direct dismissals.
The merger was first announced in July, along with a plan for continued cost cuts and staff reductions in both companies, with a target of 30% cost recuction (approximately €150 million). Cost cuts were started in both companies as a consequence of the drop in oil prices and following the COVID-19 pandemic.
Staff reductions in other areas of the company have already been made and more are expected. The merger plan implies a total reduction in staff numbers from 18,800 in 2019 to around 15,000.
Eurofound (2020), Aker Solutions, Merger/Acquisition in Norway, factsheet number 102597, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102597.
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...
