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.
Crummock, the Scottish civil engineering and construction business, went into receivership and 287 of its employees were made redundant with immediate effect.
The representative of the receivers said that the company had serious financial problems and the most important task was now to pay its creditors. A representative of the local council proposed a meeting to discuss what support they can give to the workforce and management.
Crummock was established in 1991 and aimed to become a “one-stop-shop” for civil engineering, surfacing and road markings works. It has worked on a number of prestigious projects in Scotland. The business was made up of three companies: Crummock (Scotland) Ltd, Crummock Holdings Ltd and Crummock Ltd.
The chief executive of CECA Scotland, an organisation that represents over 100 civil engineering contractors, said that Crummock’s fate highlighted the great challenges construction SMEs were currently facing. Indeed, Crummock is the latest construction SME that has gone out of business this year: in March, Vaughan Engineering went into administration, making 147 people redundant. In May, Bristol-based Ikon and the Sussex-based Heritage Building & Conservation firms entered administration, causing the loss of 50 and 55 jobs respectively.
Eurofound (2018), Crummock, Bankruptcy in United Kingdom, factsheet number 94294, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/94294.
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...
