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.
The Finnish telecoms giant Nokia has confirmed on 2 October, after a meeting with the government and representative bodies, its plan to cut 597 jobs in France (about 10% of the workforce) to make cost-savings and refocus its loss-making businesses. A first announcement was made on 2 September, but the government asked the company to suspend its restructuring, as Nokia took the commitment, in 2015, when it bought Alcatel-Lucent, to increase its R&D workforce in France by 500.
After the meeting on 2 October, the management of Nokia confirmed the reorganisation and the number of job cuts that will be focused on administrative and support services and will not affect research and development as it refocuses on high-speed 5G telecom networks, cybersecurity and internet-linked appliances. In a press release Nokia confirms "the goal of 2,500 R&D engineers by the end of 2018", recalling at the same time that a "program of recruitment of 500 engineers is in an acceleration phase".
Eurofound (2017), Alcatel-Lucent, Internal restructuring in France, factsheet number 92238, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/92238.
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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