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 15 January 2025, the online platform for luxury watches Chrono24 is cutting 110 jobs globally, including 75 at the headquarters in Karlsruhe, Germany. This represents a quarter of the workforce of 300 in Karlsruhe. Affected employees will be offered "comprehensive severance packages". The goal of the layoffs is to make the company more efficient and streamline hierarchies. The company has been profitable for years. However, the market situation has become increasingly challenging. The luxury goods business has declined after the boom during the COVID-19 pandemic.
Chrono24 currently employs 460 people worldwide, and after the restructuring, it will have 350 employees.
Eurofound (2025), Chrono24, Internal restructuring in Germany, factsheet number 202234, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202234.
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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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...
