Monitoring and managing restructuring in the 21st century : ERM annual report 2013

Abstract

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.