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.
The 320 job losses at Allergan - a one third cut in the workforce - did not come as a surprise locally as redundancies had been flagged for some time due to the sale of the company's medical device business to Advanced Medical Optics (AMO) in January 2002. The contact lens solutions market has been deregulated in recent years, which means it has become more of a commodity, low-margin, product. All remaining work at the plant will be in high value-added pharmaceuticals. Talks on redundancy terms have commenced between management and trade union representatives. Severance settlements in the pharmaceutical industry tend to be at the higher end of the spectrum.
Eurofound (2004), Allergan, Internal restructuring in Ireland, factsheet number 60720, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/60720.
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...
