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.
Banking group HSBC is cutting up to 3,500 jobs in Britain on top of 4,000 jobs that were transferred overseas announced in October 2003 and the bank cut of 1,400 posts in July 2003. The vast majority of those affected by the cuts are in the British head office, and in support and processing functions. Some of the jobs that are going - as many as 550 according to Unifi - are being moved abroad to HSBC's service centres in Asia. At the same time, the bank will be taking on up to 1,000 extra people to work in its branch network. The finance and banking services union Unifi condemned what it said was a ‘savage' jobs cull, and warned that industrial action was a possibility. HSBC said it had committed £2million to provide a programme of careers and financial counselling. The bank will seek to redeploy staff into roles across Britain.
Eurofound (2004), HSBC, Internal restructuring in United Kingdom, factsheet number 60393, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/60393.
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...
