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.
Meta, the US-based parent company of Facebook, Instagram and Whatsapp, has announced a global restructuring plan which will cut 10,000 jobs from its workforce. The plan is in addition to the 11,000 job cuts announced in November, 2022 (Meta-2022-WO). Meta has stated the recruiting department will predominantly be affected, as well as policy, marketing and communications. Further, an additional 5,000 advertised vacancies will be taken offline and team budgets have been frozen. The combination of dismissals is the largest in the company's history and is driven by low advertising revenue, which is the main revenue source for the Group.
There has been no mention of the involvement of trade unions, however, employees have stated there has been a worsening of working conditions due to the high number of layoffs and their rapid succession. The details of the restructuring plan and process for employees has not been announced.
Eurofound (2023), Meta, Internal restructuring in World, factsheet number 108632, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108632.
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...
