Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
ZKW Group, an Austrian automotive supplier specialised in lighting and electronic systems and owned by South Korea’s LG Group, announced the elimination of 600 jobs affecting mainly employees at its headquarters in Wieselburg (570 positions) and its production site in Wiener Neustadt (30 positions), both located in Lower Austria.
The restructuring is part of a broader global cost-reduction programme under which the company plans to cut around 2,300 jobs worldwide by the end of 2027, citing a challenging market environment in the automotive sector and the need to safeguard long-term competitiveness and site viability ZKW 2026 - WORLD.
The planned job reductions in Lower Austria will be implemented gradually up to the end of 2027 and primarily affect permanent, full-time positions across administrative, technical and production-related functions, with a significant concentration at the Wieselburg headquarters, including both ZKW Group and ZKW Lichtsysteme units.
The downsizing will be carried out through a voluntary social plan that has already been negotiated.
Employee representatives were involved in negotiations, and company management emphasised its responsibility as a major regional employer, framing the workforce adjustment as necessary despite its social impact.
Previous restructuring measures include a cost-cutting programme in 2023 and the elimination of 600 jobs in Wieselburg by the end of 2024 ZKW 2023 - AT.
Eurofound (2026), ZKW , Internal restructuring in Austria, factsheet number 204035, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/204035.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
Can Europe still achieve its ambitions for battery manufacturing? To answer this, the article looks at data from Eurofound’s European Restructuring Monitor and explores what recent large-scale restructuring events reveal about the state of play in the EU battery sector.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
In 2023, thousands of workers in big tech lost their jobs. Meta, Amazon, Google, Apple, Microsoft and Salesforce had been considered to offer good and secure jobs up to this point. Giants of the information and communication technology (ICT) sector,...
In 2024, the automotive sector in the EU came to the fore in public and policy discussions. The focus was on the slowdown in electric vehicle (EV) sales, rising global competition, belated investments in new technologies, and the potential closure...
