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.
SpareBank 1 Kundesenter, a Norwegian customer-service subsidiary of SpareBank 1 Utvikling within the SpareBank 1 savings bank alliance, announced the closure of its centre in Stavanger, resulting in the loss of all 113 permanent jobs.
The closure follows declining enquiry volumes as more customers use digital banking. Management described the decision as the outcome of a broader strategic assessment and denied a direct link to AI. Dismissals are scheduled from 1 January 2027.
Finansforbundet and employee representatives criticised their exclusion from the closure decision. Subsequent negotiations secured improved severance terms, although representatives stated that their demands had not been fully met. Management acknowledged the difficult discussions and committed to supporting affected employees through dialogue with employee representatives, HR and managers.
Eurofound (2026), Sparebank 1 Kundesenter, Closure in Norway, factsheet number 301351, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/301351.
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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...
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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...
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