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.
Polish financial intermediary company Open Finance is to cut 1,119 jobs through a collective dismissal programme across Poland by the end of 2022. Job cut involves 100 percent of all the employees. The conditions of the restructuring programme will be negotiated with the employee representatives.
In December 2021, Open Finance filed for bankruptcy with the Warsaw Court, due to a significant deterioration in the company's financial situation.
Open Finance has been operating since 2004 as a part of Polish financial group Getin Holding, and has been one of the largest financial intermediaries on the Polish market.
A previous restructuring programme was announced in April 2020, with 380 jobs cuts.
Eurofound (2022), Open Finance, Bankruptcy in Poland, factsheet number 106265, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/106265.
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...
