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.
Mobile telephone cover manufacturer Perlos plans to end manufacturing operations in Finland. The company will initiate personnel negotiations with staff applying to about 1,400 employees. In addition to Finland, Perlos is planning to reduce its worldwide workforce of about 13,000 employees by 4,000.
Perlos has three factories in China - two in Beijing and one in Guangzhou. In addition, it manufactures injection moulds in Shenzhen. Perlos is currently building a new plant in Guangzhou, as well as a new factory in Chennai, in India. At the end of 2006 it employed a total of 7,612 people in Asia. In Europe, there are operations in Finland, as well as Komarom in Hungary and a product planning centre in the Swedish city of Lund. At the end of 2006, the company's European personnel numbered 4,207, including those in Finland. In the Western hemisphere, Perlos has factories in Reynosa, Mexico, and Manaus, Brazil, employing 1,123 people by the end of 2006.
Perlos gave out advance information of its third quarter result on 15 January 2007. The figures showed that turnover in October through December had fallen to 144 million euro from 200 million euro the previous year. The company's Board of Directors said that it had decided on its profitability improvement programme. The aim is to achieve greater efficiency in operations and reduce annual expenses by more than 100 million euro by the end of 2007. In addition to personnel cuts, the company is trying to reduce costs through greater efficiency in production processes, purchasing and subcontracting. According to Perlos CEO Matti Virtanen, an aim of the profitability improvement programme is to renew the company’s operating procedures. "Perlos has a healthy and competitive core business, but its cost structure does not correspond to the current level of net sales. I am convinced that with this process of change, our financial performance will improve and we will simultaneously improve our competitiveness in order to become better and quicker at responding to our customers' changing needs", Virtanen says.
Eurofound (2007), Perlos, Internal restructuring in World, factsheet number 64875, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64875.
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...
