This graph, taken from the latest European Restructuring Monitor (ERM) report, shows the announced job losses and gains since 2008. Excluding transnational cases, between 2008 and 2017, some 15,729 cases of large-scale restructuring in the EU Member States were recorded in the ERM. Over 60% of all cases reported in this period involved announced job losses, totalling 4.14 million jobs.
The number of restructuring cases involving announced job reductions reaches a peak in periods of downturn in the business cycle. This happened notably in 2008–2009 during the global financial crisis. Positive, though hesitant, signs of recovery started in 2014 when for the first time since the global financial crisis, the announced job gains in the ERM outnumbered announced job losses. These positive trends continued in 2015 and up to 2017. In 2017, the ERM recorded 931 cases of announced job creation, involving 328,666 new jobs, and 549 cases of announced job loss, equating to 204,451 jobs.
The latest ERM report not only contains important information on announced job loss and gain through restructuring over the past decade, but also but also focuses on the impacts for those that remain in an organisation following restructuring.
The print copy of this report is now available to order free of charge. Place your order or download the report here.