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.
Royal & Sun Alliance, the UK general insurer, said yesterday it would shed 1,550 jobs across the world as part of a cost-cutting plan aimed at saving £130m a year. 1,000 jobs will be lost in the UK, whilst another 550 will be lost in international locations. The move, which drove its shares sharply higher, supplements a radical restructuring started three-and-a-half years ago when RSA's repeated failure to meet improvement targets had left its reputation in tatters. The general insurer also announced ambitious growth targets alongside the cost cuts and stressed its attention was turning to expansion as the bulk of its restructuring had been completed.
Andy Haste, group Chief Executive, said: 'The decision to reduce headcount is always a difficult one but [is] necessary to ensure we remain as competitive as possible.'
A spokesman for UK trade union Amicus said the union was disappointed at the number of jobs being cut and would work with the firm to try and reduce the number of compulsory redundancies.
Eurofound (2006), Royal & Sun Alliance, Internal restructuring in World, factsheet number 63674, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63674.
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...
