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.
Administrative services and back office company Santander Operaciones España, subsidiary of Banco Santander, announced a labour force adjustment. This announcement comes after the signing of the collective dismissal agreement between Banco Santander and unions for the next restructuring step as the bank integrates with Banco Popular.
The measure is expected to affect 109 employees. The company offers an early retirement buyout with 70% of the salary for 55 years or older employees and a compensation equivalent to 50% of salary from the last six years for employees aged between 53 and 54 years. For those until 52 years old (or with less than 15 years of seniority), the company offers a compensation equivalent to 33 days per year worked up to a maximum of 18 months.
Layoff conditions are lower than those present in the collective dismissal agreement, signed in June 2019 between the parent company and the unions. Indeed, the latter are opposing the offer, while demanding to match the conditions of the agreement with Banco Santander.
Eurofound (2019), Santander Operaciones España, Internal restructuring in Spain, factsheet number 98172, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/98172.
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...
