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 Irish software company Teamwork has announced the redundancy of 46 employees in Ireland and the United Kingdom, about 13% of its total workforce.
While the affected roles vary across locations and professions, 17 employees are to be dismissed in Ireland.
The company has been struggling with the effects of the global tech downturn, leading to unfavourable economic and market conditions for Teamwork. An official consultation period with Teamwork's staff about the dismissals is currently underway.
Teamwork has offices in six locations worldwide and operates in 183 countries, with 4 million users globally.
Eurofound (2023), Teamwork, Internal restructuring in World, factsheet number 200379, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/200379.