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 Danish manufacturer of wind turbines, Vestas, has announced that it is to dismiss 200 employees in Denmark, including 80 workers from its factory in Hammel. According to a spokesperson for the company, most of the employees to be made redundant are office workers and the exact number will depend on negotiations with trade unions. This move is part of the company’s plan to save €30 million per year from 2019 by reducing its staff by 1.6 per cent worldwide. The decision was made due to falling prices in the market and a shift in the industry, which has led to more growth in countries outside Europe.
Vestas employs around 4,000 people in Denmark and 24,300 people in 79 different countries across the globe. A previous restructuring took place in 2017, when 350 jobs were lost.
Eurofound (2018), Vestas, Internal restructuring in Denmark, factsheet number 95790, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/95790.
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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