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 October 2011, the French car manufacturer PSA Peugeot-Citroën announced to its European Works Councils that it would make 4,300 job cuts in 2012, as part of a recovery plan to save 800 million euro in 2012. Half of the cost reductions will be achieved by 5,000 job cuts in Europe, including 3,500 within the PSA group (2,500 in administrative, organizational and commercial staff; 1,000 in production and 800 temporary workers) and 2,500 by subcontractors in engineering and IT services.
The group finalized a recovery plan in 2009 with investments and cost cutting measures of up to €1.1 billion per year, but at that time management expected greater sales in 2011 and 2012. With the market still stagnating in Europe, in particularly in Southern Europe where PSA has its main facilities, the group decided to amend its recovery plan. PSA's CEO expects a decrease in the European market of 17 per cent in comparison with the situation in 2007.
The CEO explained that there will be no compulsory dismissals. The Group will deploy support programmes in each country, in line with the retraining, transfer and outplacement provisions of the Human Resources Planning and Development agreement signed with employee representatives in March 2010. In particular, internal posts lost through natural attrition will not be replaced. Concerning the 2,500 other jobs outside the company, the group will terminate outsourcing contracts with external companies, whose positions could be in part filled by group employees, explained PSA.
Eurofound (2011), PSA Peugeot Citroën, Internal restructuring in European Union, factsheet number 72640, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/72640.
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...
