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.
America, Australia, New Zealand, Japan, South Korea, Germany, Spain, Netherlands and the Republic of Ireland
Sector
Information / Communication Information Service Activities Information Service Activities 63 - Information service activities
3,800 jobs Number of planned job losses
Announcement Date
4 November 2022
Employment effect (start)
4 November 2022
Foreseen end date
Description
The American multinational, Twitter, has announced it will undertake a global resutructuring which will impact 3800 employees globally. The announcement follows the acquistion of Twitter, headlined by Elon Musk alongside a portfolio of investors. As CEO, Elon Musk has announced the restructuring will also involve the closure of offices in Japan, New Zealand, South Korea, Spain, Germany, and Holland. It is currently unclear whether these offices are part of the job cuts, however, employees in America, Ireland and Spain have been notified of the job reductions for their office. In Spain 26 employees were notified by mail. In Ireland 140 jobs will be cut.
Significant cut were made in the team managing communications with journalists and other organizations, in the trust and safety teams that manages content moderation, and the sales and advertising departments. Other teams have been completely closed, those include the company’s human rights as well as the machine learning and algorithmic ethics team. The firings have already prompted legal action in the US.
The restructuring event in Ireland has been recorded in the ERM Events database, with 140 job cuts in the Dublin office (Twitter-Ireland-2022).
Eurofound (2022), Twitter, Internal restructuring in World, factsheet number 107694, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/107694.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
