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.
Social media platform TikTok has announced global layoffs, affecting more than 300 positions. So far, the company has informed that the restructuring programme will affect 300 positions in Ireland and an unspecified number of employees in Singapore.
The redundancies are part of a broader restructuring affecting TikTok's trust and safety teams across Europe, Asia, and the Middle East. The layoffs follow earlier reductions in 2024, when TikTok shifted towards artificial intelligence for content moderation. Beyond job cuts, TikTok continues to face scrutiny over data privacy and national security concerns. Regulatory bodies in the US, UK, and Europe are investigating the platform’s data practices, particularly regarding its impact on younger users. In response, TikTok has pledged a €12 billion investment in European data security through its Project Clover initiative, which oversees data storage operations in Dublin and Norway.
TikTok employs about 40,000 employees worldwide.
Eurofound (2025), TikTok, Internal restructuring in World, factsheet number 202532, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/202532.
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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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...
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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...
