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.
Founded in 1985 by Carlo Giorgetti, the firm is specialised in the construction of administrative buildings, banks and shopping centres and in the renewal of old classified buildings. It is one of the most important building societies of Luxembourg participating in national projects like the construction of the administrative building of Kirchberg. The bankruptcy, as announced on 21 October 2006, was caused by financial difficulties and debts. During the last months, Carlo Giorgetti sold the fleet of vehicles, the building material and the containers to another firm called Codess SARL. The directors promised that the majority of the workers would easily find another job (agreement with other construction societies).
The financial situation had deteriorated in the last months. Carlo Giorgetti needed 9 million euro to file his petition for bankruptcy. The first reason was the shortage of liquid assets. The director has been criticised for inappropriate dismissals in order to save costs.
Eurofound (2006), Carlo Giorgetti, Bankruptcy in Luxembourg, factsheet number 64342, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64342.
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...
