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.
The American multinational social media company, Twitter, has announced it will cut 140 jobs in Ireland as part of the company’s global job cuts. About 500 people are employed by Twitter in Ireland. In early November, Twitter’s new owner, Elon Musk, announced that half of the company’s 7500 employees would be made redundant immediately.
As the new acting CEO, Elon Musk has announced the restructuring will also involve the closure of offices in Japan, New Zealand, South Korea, Spain, Germany, and Holland.
The global restructuring in 2022 has been recorded in the ERM Events database, approximately 3800 employees are expected to be let go (Twitter-2022-WO).
Eurofound (2022), Twitter, Internal restructuring in Ireland, factsheet number 107893, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/107893.