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.
Lloyds Banking Group has announced plans to cut a further 3,000 jobs from its workforce, and will close a further 200 branches. The bank which is partly owned by the British taxpayer made the announcement after announcing a rise in pre-tax profits of 101%. The job cuts are in addition to the 9,000 cuts announced in 2014. The latest cuts are said to be in response to customer preference for online banking. The bank stressed that the decision to cut these jobs was taken before the referendum on EU membership. The closures are expected to be completed by the end of 2017.
Eurofound (2016), lloyds banking group, Internal restructuring in United Kingdom, factsheet number 88324, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88324.
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...
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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...
