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.
Clearstream, a subsidiary of the Deutsche Börse group, is to cut between 140—200 jobs. IT operations and services are the two main departments directly targeted by this relocation. Some of the posts suppressed at Clearstream in Luxembourg will be transferred to Prague, where the German stock market operator already has an IT centre. No information was given as to the total employed by the company in Luxembourg. Management indicated that it will not be making direct job cuts, but will rather carry out various internal reclassifications and not replace people who leave. In addition, in order to reduce the impact on personnel, measures envisaged will include renegotiation of contracts with sub-contractors and reducing costs in services. A restructuring plan, announced at the end of November 2008, will take effect from 2008 onwards and will involve both cost reductions and personnel cuts, spread over three years. The reason given by the management is that it faces increasingly tough worldwide competition. Clearstream (formerly Cedel), was taken over in July 2002 by the Deutsche Börse group and underwent an initial operational restructuring (involving major job and cost cutting, internal reclassifications, transfers of posts and functions to the new parent company, etc.).
Eurofound (2007), Clearstream, Offshoring/Delocalisation in Luxembourg, factsheet number 66199, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66199.
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...
