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 the 7th of May 2013, French bank Societe Generale announced it will cut over 1,000 jobs worldwide by 2015. These job reductions will affect mostly France with 600 to 700 job cuts (see here).
Until now no further information has been provided regarding the other countries affected by these job cuts. This announcement is part of a new cost-saving plan “focused on rationalising the organisational structure, operating more efficiently and controling operating expenses”, explained the bank in its press release. “The purpose of the plan is to put the group in a position to achieve a ROE (return on equity) of 10% as from end-2015, thanks to additional savings on operating expenses of around EUR 900 million by 2015”.
This follows an announcement made on the 5th of January 2012 about the restructuring of Societe Generale's corporate and investment bank branch with 1,580 job cuts (see here).
Eurofound (2013), Societe Generale, Internal restructuring in World, factsheet number 75341, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/75341.
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...
