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.
NPM Silmet AS, a rare earth metals processing company, is the biggest employer in Ida-Virumaa, Sillamäe. In May, they announced 65 job cuts, which is more than 10% of their current workforce. The reason for lay-offs is taking new technology into use and rearranging its production.
It is not known who will lose their jobs, as the employees have not yet been informed, but it is expected that the target group will mainly consists of those wanting to leave voluntarily and those planning to retire. For those made redudant, the company has also expressed the willingness to try to find another position in the company.
Eurofound (2017), NPM Silmet, Internal restructuring in Estonia, factsheet number 91426, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91426.
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...
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