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.
Offshore drilling contractor Transocean is reducing its workforce in Norway by 150 to 160 employees, down from an initial forecast of 269. This staff reduction follows the reassignment of two rigs to Australia and one to Cyprus, leading to surplus staff. The reduction process has been managed in consultation with employee representatives, with efforts to reassign personnel to other rigs where possible. The handling of this downsizing has been viewed more favorably by trade union Safe, compared to previous efforts, with adherence to employment regulations and seniority considerations. Opportunities for affected workers in Norway are positive, with some finding employment with competitors. The remaining rigs in Norway are operational with long-term contracts, suggesting stability for the remaining workforce.
Eurofound (2023), Transocean Norway, Offshoring/Delocalisation in Norway, factsheet number 200772, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200772.
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...
