EMCC European Monitoring Centre on Change

Russia’s invasion of Ukraine has shocked the world and the international community. Outside of Ukraine, the crisis is having many socioeconomic consequences. Refugee flows are already putting an enormous strain on social and housing services, especially those in Ukraine’s neighbouring countries. At the same time, Russian companies in Europe are suffering from the packages of restrictive measures and economic sanctions adopted by EU Member States. Energy and global food prices are hitting record highs, supply chains are being disrupted and these combine to affect companies’ levels of production and employment.

The evidence that the crisis is beginning to have an impact on employment in the EU Member States is also apparent from some restructuring events recorded by Eurofound’s European Restructuring Monitor (ERM) events database. In a new article, Eurofound presents the first restructuring announcements from the ERM directly linked to the war in Ukraine. These involve both job creation – for example, in organisations accommodating refugee inflows - as well as job loss, for some Russian-owned companies in Europe as a result of sanctions or for firms negatively affected by rising raw material prices. The ERM dataset is updated daily with fresh cases and will continue to monitor the impacts of the crisis.

• Article:  First impacts of the Ukrainian crisis on employment in the EU
• EMCC: ERM events database