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.
Austrian and partly Hungarian state-owned Erste Bank Hungary plans to cut staff by 7-9% with the aim of reducing costs by 10% for 2018. As a result of the cost cutting measure 210-270 employees will be let go from the current 3,000 strong staff by September. The layoffs will affect both customer service and back office positions, more of the latter.
Erste Bank Hungary already made significant layoffs in 2012, when more than 400 employees were let go in a restructuring which saw the closure of almost a quarter (43) of the bank's offices (see here).
Eurofound (2017), Erste Bank Hungary, Internal restructuring in Hungary, factsheet number 90968, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/90968.
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...
