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.
French oil and gas services company CGG Veritás has announced plans to cut 10% of its employees worldwide by the end of 2014, corresponding to around 900 employees. The job cuts will take place via the closure of sites in Norway, Nigeria and Venezuela. It is not yet known how the redundancies will be split across the three locations. The company said that the decision to implement the restructuring plans had been motivated by a decline in revenues in the second quarter of 2014, with the group registering net losses of 325 million USD, as well as by adverse market conditions. The company also plans to reduce its fleet from 18 to 13 vessels and sell off land-based activities in North America. The group employed 9,688 staff at the end of 2013.
Eurofound (2014), CGG Veritás, Internal restructuring in World, factsheet number 77478, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77478.
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...
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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...
