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.
Finnish paperboard and wallpaper manufacturer Metsä Board has initiated employer-employee negotiations aiming to cut up to 100 employees at the Kyro mill in Hämeenkyrö, Finland. The reason for the redundancies is a reduced demand for wallpaper. Furthermore Metsä Board is planning to focus on its core business operation, the manufacturing of paperboard.
Metsä Board has expressed a need to increase the competitiveness of the whole Kyro mill, and therefore all employees at the Kyro mill will be affected by the internal restructuring, not only the ones working with the PM3 wallpaper machine which will be shut down. Negotiations will begin during the next week.
Metsä Board has a total of 2,600 employees world wide and 250 employees at the Kyro mill in Hämeenkyrö.
Updated, 10/10/2016; On 29 September 2016 Metsä Board announced that the employer-employee negotiations have been concluded and have resulted in 94 redundancies at the Kyro mill. The PM3 wallpaper machine will be shut down leading to a non-recurring net cost of €9 million. Metsä Board estimates that the closure will lead to a positive cash impact of €10 million.
Eurofound (2016), Metsä Board, Internal restructuring in Finland, factsheet number 88322, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88322.
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...
