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.
On 28 March 2017, financial services provider Evangelische Bank, which specialises on churches, deaconries, health and social businesses, announced to cut about 100 jobs in Germany by 2021. The bank explained that the job cuts were necessary in order for it to stay sustainable. The restructuring will affect the entire internal structure which will be optimised in light of digitalisation.
A social plan has already been adopted and includes several measures to support the affected employees. These include individual application training, further qualifications as well as arranging jobs within client companies.
At the moment Evangelische Bank employs 480 employees at 14 sites across Germany.
Eurofound (2017), Evangelische Bank, Internal restructuring in Germany, factsheet number 90698, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90698.
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...
