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 20 July 2012 the US-owned Remy Automotive Hungary notified its employees about the closure of its site in Mezőkövesd, after 80 years of operation. Around 200 employees will be dismissed and the remaining 150 will be offered a job at another site in Miskolc.
Remy produces starter motors and generators for the automotive industry. According to the company’s statement: “Manufacturing volume in Europe continues to be below our previous expectations, thus production in Mezõkövesd could be moved to locations in Mexico, China, South Korea or Miskolc, Hungary, without any significant development costs,”.
The trade union representative stated that the compnay asked a consultancy company to help the dismissed to find another job, but highlighted the fact that the process will be challenging, especially for those who had worked at the production line for 20-25 years. The closure of the factory is expected to bring about additional negative effects on its 100-150 suppliers.
Eurofound (2012), Remy Automotive Hungary, Offshoring/Delocalisation in Hungary, factsheet number 74824, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/74824.
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...
