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 Norwegian technology group Kongsberg Gruppen will cut 260 jobs, about a 100 of these in Norway, after being in deficit due to the acquisition of Rolls-Royce Marine in April 2019. In addition to job reduction measures, the company will merge Rolls-Royce Marine with Kongsberg Maritime, sell the Vung Tau plant in Vietnam, close down offices and take other measures to balance the finances. According to the company’s Finance Director, these measures will lead to savings of about 200 million a year. The job cuts will affect full-time employees in various countries, and there might be additional jobs cuts in the future. There is no reference to the opinions of the trade unions on the matter.
The company undertook several restructuring processes in 2015 and 2017 after the crisis in the oil industry, as previously reported (see Kongsberg Maritime 2017 NO and Kongsberg Maritime 2015 NO). The hiring of 150 new employees in 2018 was described as positive news (Kongsberg Gruppen 2018 NO), but the recent announcement of job reduction measures shows that the company is still working on balancing its finances. The company has about 7000 employees worldwide.
Eurofound (2019), Kongsberg Maritime, Merger/Acquisition in Norway, factsheet number 97749, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/97749.
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...
