ERM Annual Report 2013: Monitoring and managing restructuring in the 21st century
Published today, the 2013 ERM annual report presents a retrospective of over a decade of measuring the impact of large-scale restructuring activity in Europe. Some key findings:
- Together, manufacturing and construction account for well over 100% of the net employment losses experienced since 2008. Employment has continued to grow before, during and after the crisis in some knowledge-intensive service sectors such as health, education, IT/information and professional services.
- The auto/transport sector is the one large manufacturing sector in which EU employment levels have grown over the past decade. Nearly all of the net gains have come in central and eastern European countries, confirming an eastward shift in production.
- Many of the largest ERM restructuring cases since 2008 have been implemented in public administration, which has accounted for a much higher share of overall announced job loss since 2008.
- The crisis has significantly lowered the rate of large-scale restructuring job loss in Europe attributable to offshoring.
- Half of offshored jobs in such cases remain in Europe.
- Post-crisis, there has been an increase in the share of restructuring job loss attributable to bankruptcy or establishment closure.
Updated 5 December 2013