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 new CEO of Budapest Transport Company (Budapesti Közlekedési Vállalat, BKV) is considering a mass redundancy of more than 1000 employees, depending on the review of the company's departments, media reported in April 2007. BKV provides transportation services for passengers in Budapest, in the capital of Hungary. Out of the services the bus branch covers 41%, the tram 26 %, the metro and underground 22%, the suburban railway 5% and the trolleybus branch 6%. The lay-offs would entail a less than 10% cut among blue-collar employees, while 20% of the white-collar workers would be affected by the redundancies if the reorganisation plan is accepted by the owner of the company, the Budapest local government. Reorganisation plans are to be discussed at the 10 April 2007 meeting of the council of the local government.
Following several weeks of negotiations between the management of BKV and trade unions, agreement was finally reached about wages within the company. Strike planned for 4 September 2007 was averted with the trade unions accepting the employer's offer. The agreement, valid until 31 December of this year, guarantees a one-time bonus of HUF 12,000 for employees, a base wage raise in the amount of HUF6,000, and HUF7,100 base wage increase for next year. However, wage increase was possible with the reorganisation of timetables, efficiency will be ensured by eliminating downtime will be shortened, and by the dismissal of further 150 employees on top of the 650 employees for whom early retirement was offered as other job reduction measure in the course of the company's reorganisation.
Eurofound (2007), Budapesti Közlekedési Vállalat, Internal restructuring in Hungary, factsheet number 65211, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65211.
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...
