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.
Hugo Boss Group, the leading German clothing manufacturer, will cut 150 out of 2,800 jobs in Germany. The company announced that a social plan is already settled. An agreement concluded with the works council in 2008 which aims to safeguard the production sites and employment for five years, is said to stay in place. No precise timeline is given as to when the job cuts will occur.
According to the company, the job cuts form part of an internal restructuring programme to "lean up ways of decision making and steering of global growth".
Handelsblatt notes that Hugo Boss has been facing a decline in profits since 2008, when the majority of its shares were purchased by the German private equity firm Permira. Hugo Boss is in debts because of declared extra dividends to Permira which takes these dividends to pay for its purchase of Italian fashion company Valentino.
Hugo Boss Group employs a total workforce of 9,500 worldwide. There is no information on job cuts occurring outside Germany.
Eurofound (2009), Hugo Boss Group, Internal restructuring in Germany, factsheet number 67848, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67848.
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...
