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.
The mobile phone company Nokia is starting personnel negotiations concerning a maximum of 700 employees globally and approximately 340 in Finland. Job cuts are to take place in sales and marketing activities and internal IT operations. Nokia plans to adjust its workforce within these functions to reflect business needs and the geographical shift in business growth.
Nokia aims to reemploy affected employees into new positions within the company, and also plans to introduce voluntary arrangements for employees. Where applicable, Nokia will start the consultation process with employee representatives about the planned changes.
"We have a number of positions open in Nokia, and the impacted people are naturally priority candidates for positions that match their competencies," said Juha Äkräs, Senior Vice President, Nokia Human Resources. "We have a good track record from previous years of redeploying employees in similar situations." In 2006, almost 10,000 people rotated into new positions across the Nokia group.
Nokia's Enterprise Solutions plans to sharpen its focus on markets where there is greater return on investment, which will strengthen the business group's ability to compete effectively. It is estimated that globally approximately 360 employees in Enterprise Solutions and 30 employees in Customer and Market Operations will be affected by these changes.
In Nokia's IT organization, there is an adjustment need affecting 130 employees globally. This reflects the continuous drive for an effective operating model within the IT organisation, with a clear focus being placed on areas of greatest value and competitive advantage to Nokia's business.
Nokia is also reviewing the Software Platforms activities in its Technology Platforms unit and planning actions to improve focus and efficiency in R&D. It is estimated that these plans will impact approximately 140 jobs.
Eurofound (2007), Nokia, Internal restructuring in World, factsheet number 64989, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64989.
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...
