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.
On 30 August 2004, UPM started cooperation talks with employees at five wood products plants in Finland. There had been prolonged over-supply of sawn timber in the European market, and as a result the profitability of the sawmilling business had been declining for several years. The profitability of the plywood business had also been hit by large over-capacity in Finland and by high costs. UPM was seeking to adjust its wood products production to the present and future market and raw material situation. The proposed measures would cut the workforce by 750. On 28 October 2004, the negotiations with the employees have reached completion. Financially viable options were not found to the proposed closure of units and to the production cuts at Alholma and Kajaani sawmills. It was determined that further processing at Aureskoski could continue virtually unchanged; the Kuopio plywood mill will not be closed down before early autumn 2005; and the number of job reductions is slightly lower than anticipated. In addition, the Group will launch an extensive re-allocation and retraining programme. The measures concerning the job cuts will result in a workforce reduction of 672 in addition to the cutting of temporary contracts in the units concerned by the negotiations by the end of 2005.
Eurofound (2004), UPM, Internal restructuring in Finland, factsheet number 60510, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/60510.
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...
