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.
Novo Nordisk, the Danish manufacturers of insulin, are to cut 1,000 jobs in a cost cutting measure as competition for their product increases. Half the cuts will be in Denmark, and will fall on the research and development, sales, and administrative areas of operation. The cuts will be overseen by a new CEO, with the long serving chief executive standing down imminently. There has been increased competition and a slow growing market, particularly in the USA, which has catalysed this downsizing. The American market accounts for about half of Novo Nordisk's revenue, causing Novo Nordisk to cut its profit forecast by 8% in August. 2016's financial outlook will not change as a result of this downsizing, although long term savings are expected to be between $105-150 million (EUR 93-98 million).
Eurofound (2016), Novo Nordisk, Internal restructuring in World, factsheet number 88787, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88787.
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...
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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...
