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.
According to the national restructuring strategy of the iron and steel industry over the period 2004-2010, Mittal Steel Galaţi (Sud-Est region) is set to decrease its employment to 15,000 people in 2010, starting from 18,500 in 2004. For the entire steel industry, the new strategy is to shrink the number of jobs by 1,787 in 2005 and by 8,536 by 2010.
On 1 August 2005, the management of Mittal Steel Galaţi (Sud-Est region) gave more details on the voluntary redundancy programme. Employees leaving the company of their own free will are to receive three categories of redundancy pay: a) the first category includes amounts in the range of 3,400-4,600 euro for each redundant employee, depending on length of service in the company and wage level; b) employees with over five years length of service with the company will be granted additional amounts ranging between six and twelve monthly wages; c) a monthly allowance of about €66 are to be granted to all employees made redundant since leaving the company voluntarily means they are not entitled to unemployment benefit.
Redundancy pay will be covered entirely by Mittal Steel Galaţi. The company has announced it will reserve the right to decline certain applications, depending on company interests.
This is the fourth stage of redundancies since the privatisation of the steel works in Galaţi, as well as the most generous in terms of compensation.
Although the management intended to cut 1,800 jobs in the course of the programme, only about 1,000 redundancy requests were made and the application period was extended.
Mittal Steel Galaţi is the largest iron and steel plant in Romania and one of the major companies in the country.
Eurofound (2005), Mittal Steel Galaţi, Internal restructuring in Romania, factsheet number 61865, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61865.
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...
