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 announced on 26 January 2023, the UK personal service firm EY will be cutting approximately 420 jobs in Germany due to internal restructuring. While the timeframe of the restructuring is not clear as of today, workers’ representatives and management have started negotiations. It is expected that EY will cut 380 jobs in so-called back-office areas such as marketing and administration. In addition, the contracts of 40 partners are to be terminated. According to company sources, the job reduction has become necessary in order to strengthen the company’s profitability before the split into two independent audit und consulting firms.
Previous restructuring events have been recorded in the ERM database for EY. In 2023 200 jobs were created in Hungary (EY-2023-HU) and in 2022, 150 jobs in Poland (EY-2022-PL) and 600 jobs in Ireland (EY-2022a-IE).
Eurofound (2023), Ernst & Young (EY), Internal restructuring in Germany, factsheet number 108323, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108323.
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...
