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.
Akrom Akal, a Romanian company based in Suceava (Nord-Est region), which entered the market in 2000 following a $20 million investment of AK-AL group from Turkey, announced that it is downsizing, as losses registered over the past months continue to accrue. The company produces finished yarns 100% acrylic and acrylic blends with wool, cotton, viscose along with different fancy fibres.
The management has explained that the company has no debts currently but is faced with serious difficulties following rising prices in electricity, gas and utilities, depreciation of the euro and the dollar against the leu and the competition of similar products from China, which are no longer subject to contingency measures in the European Union starting in 2005.
Akrom Akal director declared he has great faith in the skilled, high productivity workforce of Romania, but current prices have become prohibitive. Of the 950 employees, just a few more than 300 will remain with the company while the factory manager does not exclude the possibility of re-hiring laid-off employees in the future, given a change in market conditions.
Eurofound (2005), Akrom Akal, Internal restructuring in Romania, factsheet number 61437, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61437.
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...
