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:
- Anticipation of change – investing in human and physical resources in order to be ready for future challenges (particularly through education and training);
- Mitigation of the employment and social effects of restructuring activities – proposing solutions to minimise social costs. Encouraging information and consultation of workers.
The EU has played an active role in establishing a legal framework for better anticipation and socially responsible management of restructuring for many years.
Commission framework for anticipation of change and restructuring
The Commission adopted a Communication setting out a European Quality Framework for anticipation of change and restructuring in December 2013. In this Communication, the Commission commits to
- monitoring the way the Quality Framework for Restructuring (QFR) is applied in the EU
- sending monitoring reports to the European Parliament and social partners.
- builds on an independent monitoring study on the Quality Framework for Restructuring to assess its implementation
- outlines the different instruments by which the European Commission seeks to improve the way in which companies' restructuring processes are anticipated and managed.