The European Restructuring Monitor (ERM) annual report for 2015 explores the issue of job creation in small and medium-sized enterprises (SMEs). SMEs are increasingly recognised as a job engine for Europe. However, given the heterogeneity of the vast SME population, not all contribute equally to employment growth. This study seeks to identify which SME types are more or less dynamic job creators and to determine their main drivers and barriers for job creation.
The European Restructuring Monitor’s annual report for 2014 explores the rapid transformation of the public sector in Europe since the onset of the financial crisis in 2008. Initially, employment expansion in the sector helped to stabilise Europe’s economy while the private sector suffered severe job losses. However, subsequent austerity measures (or fiscal consolidation) have brought in their wake widespread restructuring in the public sector.
The 2013 annual report from the European Restructuring Monitor (ERM) presents a retrospective of over a decade of measuring the impact of large-scale restructuring activity in Europe. Based on a database containing details of over 16,000 large-scale restructuring events– each generally involving at least 100 job losses or gains – it paints a picture of restructuring trends across the EU Member States. The report sets out to compare activity in the period leading up to the economic and financial crisis (2003–2008) with the post-crisis period (2008–2013), in order to identify changes in restructuring practices and to pinpoint the sectors that have been disproportionately affected, in employment terms, by the global recession. Also included is a critical assessment of all ERM activities, including the two newer policy-oriented databases: public support instruments and restructuring legislation. Finally, the report places the spotlight on the phenomenon of offshoring, charting the decline in offshoring activity by European firms since the onset of the crisis.
In the face of recession, falling demand and the consequent slowing of production, short-time working and temporary layoff schemes have been extended (or introduced) in many Member States. These schemes, often with the aid of public funds, reduce working time, while protecting workers’ incomes and company solvency; frequently, the time spent not working is used for training instead. This report examines the practice of reduced working time across Europe, and looks in detail at how it is implemented in 10 Member States, with a view to determining the contribution that such schemes can make in implementing the common principles of flexicurity, especially in light of the broad-based consensus they enjoy among the social partners.
Structural change is a general characteristic of economic development, driven by shifts in relative productivity and demand, technological or socioeconomic changes. To adapt to a changing economic environment, companies undergo restructuring to maintain or improve their competitiveness and, hence, sustainability. While restructuring is essential to the dynamism of the European economy, it can entail difficulties for employees. The ERM annual report 2011 looks at the whole range of instruments available in the EU to mitigate the negative effects that it may have for both companies and employees and introduces around 400 of them in an online database. The ERM annual report also presents an overview and analysis of restructuring activities in Europe as captured by the European Restructuring Monitor (ERM).
The ERM Report 2012 focuses on the consequences of restructuring for employees. It examines which employees lost their job at the onset of the economic crisis, which of them found a new job and how both job loss and subsequent re-employment impacted on their overall life situation and satisfaction. It also looks at the impact on working conditions for employees who remain at the restructured firm. Both these studies, of those who lost their jobs and those who stayed at the restructured workplace, have never before been analysed by using common, EU-wide and representative, datasets. The report also provides an overview of recent restructuring using the ERM database. While restructuring cases reporting job loss have fallen since the peak of 2009, they still outnumber announcements of job gain. Several recent cases testify to serious problems in the once very promising alternative energy sector in Europe. The findings show that much of the recently announced job creation is in the hotels and retail sectors.
Over the course of 2008 and 2009, the world economy experienced one of the most serious recessions in modern times. In July 2009, 22 million men and women were unemployed throughout Europe, five million more than a year previously. Moreover, the situation may well still have further to play out: experience of previous recessions suggests that the full effect of the downturn upon employment has yet to materialise. Eurofound’s analysis of restructuring and job loss over the past year is collated and reviewed in this, the fourth annual report of the European Restructuring Monitor. Analysing the effects of the recession upon employment, it also looks in detail how particular sectors, countries and occupations have been affected, and examines a range of responses that have been taken to safeguard employment - at the company, Member State and European level.
A key element of European policy is the emphasis on boosting employment and maximising its quality – creating ‘more and better jobs’ – with a view to shaping a competitive, knowledge-based economy. Over the period 1995 - 2006, considerable growth in employment took place in most European countries. This report seeks to determine if those jobs created were also of better quality. It analyses the level of employment growth across the wage spectrum in each Member State by sector, occupation, type of contract, and gender.
This report provides some perspectives on the effects of trade liberalisation on the European labour market. For its analysis, it draws on data from the European Restructuring Monitor (ERM), the only EU-wide monitoring instrument available. The 2007 ERM report identifies some of the recent and emerging trends in the current phase of globalisation and provides suggestions on how policy should be re-oriented to address these new circumstances.