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 26 August 2011, banking group ABN Amro announced it will cut another 2,350 jobs until the end of 2014. This comes on top of the loss of more than 6,000 jobs over the past two years after the merger of ABN Amro and Fortis.
The job cuts are attributed to the need to decrease the costs, which are high compared to competitors. The majority of the job losses will take place at the head office (administrative functions), the IT department, and the retail and private banking departments.
ABN Amro plans to cut around 1,500 jobs through forced dismissals due to the low labour turnover rate. The unions stated they were shocked. The works council still has to be consulted on the restructuring.
Eurofound (2011), ABN Amro, Internal restructuring in Netherlands, factsheet number 72300, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72300.
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...
