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.
Information / Computing Computing infrastructure, data processing, hosting and other information service activities Web search portal activities and other information service activities 63.9 - Web search portal activities and other information service activities
2,000 - 2,300 jobs Number of planned job losses
Announcement Date
4 May 2023
Employment effect (start)
4 May 2023
Foreseen end date
31 May 2023
Description
Canadian multinational, Shopify, has announced plans for a global restructuring that will include laying off 2,000-2,300 (20%) employees from its workforce. While the company has not detailed the departments which will be most impacted, it has announced that the 'dawn of the AI era' is playing a large role in the motivation to reduce and 'simplify' its workforce. The company has stated that restructuring policies for employees will include 16 weeks severance pay, an additional week per year employed and medical benefits for the same duration.
Eurofound (2023), Shopify, Internal restructuring in World, factsheet number 109061, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/109061.
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.
