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.
Swiss owned bank Credit Suisse has announced plans to cut its London workforce by 2,000. This is approximately one third of the 6,600 people the company employs in London. Its new chief executive had unveiled the plans to investors in early October though at that time there was no information on when the job cuts would start to take effect. The 2,000 jobs will come mainly from back office roles with around 200 coming from front office roles. In November it was reported that the first round of job cuts had started with around 200 jobs to go in the first round of cutbacks. As of early December 2015, there is no further information available about the timescale for the remaining job losses.
Update 18/02/2016: Credit Suisse has announced a further 200 jobs will be lost from its London office as part of the cutbacks originally announced in late 2015. Plans to reduce the workforce came with the release of the 2015 financial results, during which the bank made a pre-tax loss of CHF2.4bn (approx. €2 billion) annual loss - the first loss made by the bank since the financial crisis in 2008.
Eurofound (2015), Credit Suisse, Internal restructuring in United Kingdom, factsheet number 85609, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/85609.
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...
