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.
Lloyds Banking Group has announced plans to create 8,240 jobs as part of a move to revamp the services it offers to its customers. The new jobs will be part of a move to greater online provision for the bank and will also see the loss of 6,240, meaning a net increase of 2,000 jobs. The bank has undergone a series of restructurings in recent times and has closed many high street branches. The latest announcement will not affect any high street branches, though a site in Gillingham will close. Workers will be retrained to fill the new positions and it is anticipated that the bank will be able to fill three-quarters of the new roles with existing staff members. As of November 2018, there is no information on the timeframe for this latest restructuring.
A spokesperson for the Unite union raised concerns with yet another restructuring, arguing that this would lead to lower staff morale. The spokesperson also urged the bank to minimise compulsory redundancies and ensure that staff who are retained receive the proper training and support in order for them to be able to undertake the new roles.
Eurofound (2018), Lloyds Banking Group, Business expansion in United Kingdom, factsheet number 95943, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/95943.
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...
