Helping Europe cope with restructuring - EU

Helping Europe cope with restructuring - EU

(...) From time to time most companies will have to restructure their affairs to deal with challenges such as globalisation, business mergers, the introduction of new technologies, or problems caused by economic recession. While restructuring can lead to leaner and fitter businesses that are better able to cope with prevailing circumstances, there are often downsides for employees in the shape of job losses, collective lay-offs and changes in working conditions. In fact, restructuring can cause major problems for local communities. When, for example, a car maker decides to shut down a factory, thousands of workers can lose their jobs. When entire industries are restructured – such as coal mining – the impact on reliant regions can be felt for years to come. The EU is acutely aware of the negative effects restructuring can have on society, businesses and the labour market. Consequently, it is involved in a number of specific initiatives that will help to anticipate and manage change. It is funding a website called Anticipedia, which is a networking tool that provides information about restructuring that can be used by both companies and workers. And a European Commission task-force has been established which aims to ensure that all relevant EU policies are harnessed to address the challenges of restructuring. (...)