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.
Oil company BP is downsizing its activity in the North Sea, reducing its staff in Norway by at least 110. At the time of the announcement, it was yet to be determined who and exactly how many would be affected by the restructuring. The details of the restructuring are expected to be worked out by May, at the latest. Hired consultants from various professions will likely make up the majority of the cuts, according the company. BP has been downsizing internationally since the oil spill in the Gulf of Mexico in 2010 and announced further cuts in December 2014. The process is now being sped up due to the fall of oil prices. At the end of January, BP announced it is freezing the salaries of almost all its employees. This does not, however, apply to those employees in the North Sea who are covered by Norwegian collective agreements. BP currently employs about 4000 in the North Sea. Other oil companies including Shell, Chevron and Statoil are also scaling down their activity in the area.
Eurofound (2015), BP Norge, Internal restructuring in Norway, factsheet number 78774, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/78774.
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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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...
