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.
Fernando Ulrich, BPI’s President, announced that BPI [Banco Português de Investimento] will cut 250 jobs this year, mostly through early retirements. The bank wants to complete the restructuring plan agreed with the EU Commission, which became mandatory after receiving public support. For this, the bank has to meet the agreed objectives. One of them is to reduce the number of workers to a maximum of 6,000 in Portugal. At the end of March, BPI had 6,254 workers. BPI will spend between € 18 million to 19 million in this process.
Since 2011 BPI has dismissed 320 workers (see BPI-2011 and BPI-2012).
Eurofound (2014), BPI, Internal restructuring in Portugal, factsheet number 77068, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77068.
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...
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