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.
Abbey National has announced that up to 2,000 jobs are to be cut in 2006, on top of the 4,000 which have gone since the takeover by Banco Santander in late 2004. News of the planned job cuts came as Abbey announced it had turned pre-tax losses of £21 million in 2004 into profits of £596 million in 2005. A spokesman said the bulk of jobs going would be "back office" posts.
When Santander took over Abbey in November 2004, the British bank employed 24,500 staff. By the end of 2005 that number had fallen to 20,500. The cuts helped deliver savings of £224 million - well up on initial expectations of £100 million. Mr Gómez-Roldán said the bank had exceeded targets set for 2005. 'We've made a good start towards achieving our three year turnaround and long term goal of becoming the best retail bank in the UK.'
Eurofound (2006), Abbey, Internal restructuring in United Kingdom, factsheet number 62912, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/62912.
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...
