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 part of a global restructuring, Dutch car navigation systems company TomTom has announced that it will cut 51 jobs out of 260 at its offices in Ghent, Belgium. Job losses will be mostly targeted at the 'mapmaking' department, due to a new focus on automation of the design of maps. The job cuts were announced at a special works council meeting according to the Secretary of Liberal Trade Union (ACLVB). The Union's Secretary stated that TomTom has also referenced the weak car market due to pandemic induced supply chain shortages as a key factor in their global restructuring.
TomTom's global restructuring, cutting 500 jobs in 2022, has been recorded in the ERM Events database (TomTom-2022-WO).
Eurofound (2022), TomTom, Internal restructuring in Belgium, factsheet number 107975, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/107975.
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...
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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...
