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.
Google, the search engine, ad and consumer app multinational, has announced an internal restructuring plan to cut 12000 jobs from it's global workforce. The job cuts are anticipated to impact all areas, functions and regions of the company. Redundancy support or packages have not been specified for workers outside the USA. For staff in America, the redundancy package will include full notification period of a minimum of 60 days paid, with severance packages to start from 16 weeks’ salary plus two weeks for every additional year at Google.
The CEO has stated that Google's growth agenda over previous years required increases in staff, however, due to the new economic climate and potential in AI, the company must reduce it's workforce in order to meet strategic targets.
Previous restructuring events have been recorded in the ERM Events database. In 2022, Google announced the creation of 1500 jobs in Poland (Google-2022-PL).
Updated, 24/02/2023
Google has announced that as part of it's global restructuring, it will cut 240 jobs from it's workforce in Ireland (Google-2023-IE).
Eurofound (2023), Google, Internal restructuring in World, factsheet number 108211, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108211.
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...
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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...
