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.
480 jobs are to be axed at two NHS [National Health Service] hospitals in Surrey and south-west London as part of a drive to save 24 million GBP over the next 18 months. The trust is also cutting 170 patient beds. Health campaigners said they believed the 'scandalous' cuts would hit secretaries, nurses and cleaners. The trust runs Epsom General Hospital in Surrey and St Helier in Carshalton. It is not currently in debt but needs to make the savings to balance its books in future. Chief executive Lorraine Clifton said it appreciated it was an 'unsettling time for staff'.
No individuals had yet been identified for job losses but every area, from senior management to clinical, non-clinical and corporate areas had been reviewed by consultants KPMG over the past five weeks. As far as possible, the reduction in jobs would be achieved by not filling vacant posts and reducing the use of temporary staff.
'While our financial situation has been a key driver for the recovery plan, there is also an opportunity to improve services for patients,' said Ms Clifton.
'By looking at all our systems and how we can work differently, we will make sure patients have good access to services and don't spend longer in hospital than necessary.'
Public services union Unison said staff were furious.
'Their futures have been put on the line in order to bail out a financial crisis that is not of their making', said branch secretary Kevin O'Brien.
He said a demonstration would be held on 25 November to show the anger of staff and the public about the 'assault on their local hospital services'.
Eurofound (2006), Epsom and St Helier Hospitals Trust, Internal restructuring in United Kingdom, factsheet number 64318, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64318.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
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...
