Restructuring – company reorganisation, closures, mergers & acquisitions, downsizing, outsourcing, relocation etc. – is a necessary part of economic life but the consequences can be painful for all concerned. The EU is working to reduce the negative impact of restructuring and help people capitalise on the opportunities it presents. Its activities involve:
- Preparation – investing in human and physical resources in order to be ready for future challenges (particularly through education and training);
- Change management – proposing solutions to minimise social costs. Encouraging information and consultation of workers.
- Documentation – a collection of documents on restructuring and anticipation
- Restructuring forums bringing together key stakeholders to help unions, businesses and workers deal and prepare for change
- European Globalisation Adjustment Fund (EGF) – aims to help workers made redundant as a result of changing global trade patterns to find another job as quickly as possible