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.
Shipping company Simon Møkster is taking three of its offshore supply vessels out of service in Norwegian waters, leaving 70 employees redundant.
Platform supply ships Stil Odin and Stril Myster will be docked, while Stril Mermaid is offshored to the Faroe Islands. Employees were informed about the decision at the company's headquarters in Stavanger on Monday 11 May. The process of selecting employees for dismissal was scheduled to start shortly after. The employees will not be offered severance packages. Union representative Olav Berge says many employees are hit hard by the decision, but he acknowledges that the market situation is very challenging and that the company has tried to retain its employees as long as possible. The decision is influenced by the drop in crude oil prices and the subsequent decline in activity on the Norwegian continental shelf. Over the past months, Norwegian offshore shipping companies have announced staff reductions amounting to a total of 600 jobs.
Eurofound (2015), Simon Møkster Shipping, Internal restructuring in Norway, factsheet number 83685, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/83685.
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...
