Restructuring

Restructuring is a term used to describe a wide range of activities which lead to the reorganisation of an enterprise. Restructuring can have serious consequences for the workforce as far as levels of employment and terms and conditions of employment offered to workers are concerned. According to the European Pillar of Social rights workers or their representatives have the right to be informed and consulted in good time on matters relevant to them, in particular on the transfer, restructuring and merger of undertakings and on collective redundancies. Since 2002, the European Restructuring Monitor (ERM) has been monitoring the employment impact of large-scale restructuring events in Europe.  Restructuring events include company reorganisation, outsourcing, business closure, downsizing or expansion, mergers & acquisitions, relocation, offshoring and reshoring.