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.
Car manufacturer Lotus has announced plans to cut up to 200 jobs at the car makers' plant in Hethel in Norwich. The company said it was making cuts because of poor sales in the US market which has been hit by rises in oil prices and interest rates. But the firm is to launch three new models over the next three years, including its flagship sports car. Staff on the Europa, Elise and Exige production lines will all be affected as well as some administrative staff. The firm said a significant proportion of the job losses would be made through voluntary redundancy. Mike Kimberley, chief executive officer of Group Lotus, said that while any job losses were regretted, it was essential to respond fast to market conditions.
'We have some great opportunities ahead of us and some already under way but we have to tighten our belts in the short term as we drive to stimulate sales in the depressed USA market.'
Tim Byles, chief executive of Norfolk County Council, said: 'We should not let disappointment at the short-term job losses obscure what is a remarkable commitment to the future of Lotus.'
Lotus currently employs 1,200 workers in Norfolk.
Eurofound (2006), Lotus, Internal restructuring in United Kingdom, factsheet number 64133, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64133.
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...
