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.
Danish wind turbine blade manufacturer, LM Wind Power, has presented a redundancy plan, which will affect 250 jobs at its Ponferrada plant (reducing the workforce to around half). The dismissals are supposed to be carried out through early retirement. If these retirement schemes won't work, the company will implement a redundancy procedure. The works council has approved of the early retirement schemes.
The dismissals are due to the economic downturn in Spain, the unfavourable climate in the wind turbine market and a decrease in demand for LM's products. The workforce at the Ponferrada plant has decreased from 1,200 in 2008 to 450 in 2011, whilst production at this centre has dropped from 932 sets of wind turbine blades to 259 sets. In 2010 LM Wind Power employed 4,676 people worldwide and had factories in 13 different countries.
UPDATE on 02-07-2011 - Employees at LM Wind Power's Ponferrada plant in Spain have approved the firm's redundancy plan, which will affect 250 jobs. Employees who volunteer to accept the redundancy package up until 8 July 2011 will receive 65 days pay per year worked.
UPDATE on 12-07-2011 - LM Wind Power has announced that 75% of the workforce at its Ponferrada plant in Spain has decided to accept voluntary redundancy. This is more than the initially estimated minimum of 250 employees and will leave the firm with 112 workers, compared to 1,200 in 2008. Employees will receive compensation to the value of 65 days pay plus EUR 1,500 (USD 2,106.22) per year worked. The Ponferrada plant is expected to produce one blade per day during the final quarter of 2011.
Eurofound (2011), LM Wind Power, Internal restructuring in Spain, factsheet number 72134, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72134.
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...
