More jobs lost to closure in last quarter of the year / Eurofound News, February 2015
27 February 2015
In the final quarter of 2014, Eurofound’s European Restructuring Monitor recorded the announced loss of over 76,000 jobs, in nearly 200 separate cases. The proportion of job losses attributable to closure (11%) substantially increased compared to the percentage reported in the third quarter (6%). The opposite trend was noted for bankruptcy: the proportion of jobs lost decreased from 13% in the third quarter to 8% at the close of the year. Internal restructuring continued to account for the great majority of announced job losses – 69%, somewhat less than the previous quarter. Consistent with figures from the previous quarter, announced job losses continued to outweigh announced job creation, pointing to a slowdown in the still hesitant recovery of the EU labour market.