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.
The Fitness App provider Runtastic, an Austrian subsidiary company of the German manufacturer of sports equipment Adidas, is dismissing 70 of the 250 employees at its plant in Pasching, Upper Austria. Due to internal restructuring plans, the dismissals are going to take place in the course of the next months. It is argued by the company that the reason for the job cuts lays in the changes of demand in Fitness Apps due to the Covid-19 pandemic. Moreover, Adidas is planning on closing down the "Training"-App over the course of the next few months in order to focus on the main product, the "Running"-App. The brand Runtastic is increasingly pushed into the background and the Apps have been renamed as "Adidas Running" and "Adidas Fitness".
The Start-up Runtastic was founded in 2009 by Florian Gschwandter. In 2015 Adidas bought the Start-up for 220 million euros.
Eurofound (2023), Runtastic, Internal restructuring in Austria, factsheet number 108758, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/108758.
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...
