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.
On 15 October 2008, Tessival, one of the leading European companies in the textile sector, announced the closure of its plant located at Fiorano al Serio, with the consequent loss of 150 jobs (out of 218). In March 2008, Tessival announced the loss of 120 jobs at its plant at Fiorano al Serio. The job cuts will affect workers employed in the power-loom weaving facility. According to the company, the restructuring plan is mainly due to aggressive competition from low labour-cost countries, especially China. The company and the trade unions planned some meetings in order to elaborate adequate initiatives to reduce the social effects of the redundancies envisaged by the restructuring plan, guaranteeing different measures to support the redundant personnel during spells of unemployment, with a view to find a new job. According to the company, the closure is due to the increasing global competition in the textile market. The company will ask the government for recourse to the “extraordinary” Wages Guarantee Fund for two years. Tessival has eight manufacturing units in Italy with a total workforce of around 1,000 employees. It is headquartered in Azzano San Paolo, in the province of Bergamo.
The authorities had previously applied for aid from the European Globalisation Adjustment Fund (EGF).
Eurofound (2008), Tessival, Internal restructuring in Italy, factsheet number 66372, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66372.
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...
