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.
BBVA, one of Spain's leading banks, has announced the creation of two new innovation centres in Bilbao (Basque Country). They will create 200 new jobs requiring a high technological profile: mainly computer, telecommunications, systems and industrial engineers, and mathematicians. The recruitment processes have already started and will length over the next two years. These new centres will play a critical role in BBVA's operations and strategy, aiming to compete with the big tech companies operating in the financial sector. The first centre will be part of BBVA Next Technologies, focused on software engineering. It has 900 experts who provide strategy and development services for cloud, data and security solutions. The second new centre will be part of BBVA IT, which provides digital support to various business areas, central services and the data area. It employs 750 people, mostly software developers and big data experts. This announcement comes after the adjustment plan that affected 2,935 employees in 2021.
Eurofound (2022), BBVA, Business expansion in Spain, factsheet number 106293, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/106293.
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...
