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.
TSN Care, the home help agency was declared bankrupt in mid-March, with the loss of up to 11,000 jobs.
TSN Care faced five reorganizations in 2015, which resulted in over four thousand job losses. The management explained that reorganisations were the result of cuts made to the public funding for home care.
TSN has more than forty branches spread throughout the country: in the provinces of Groningen, Drenthe, Overijssel, Gelderland, Flevoland, Utrecht, North Holland and South Holland. Headquartered in Almelo. TSN provides services to about sixty thousand elderly and needy persons.
Updated, April 2016: at least 2,500 of the TSN Care staff who lost their jobs due to the firm's bankruptcy have been taken on by private non-profit care home provider Buurtzorg.
Eurofound (2016), TSN care, Bankruptcy in Netherlands, factsheet number 88151, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88151.