The employment Restructuring Report is compiled by Kelly services. It provides a timely review of economic, labour and hiring conditions in the relevant markets, with a detailed focus on the most recent data regarding mass layoffs and restructuring. The report is compiled utilising publicly available data from official, private and not-for-profit organisations. published on a quarterly basis, the employment Restructuring Report is available in separate editions for the United States and the European Union.
2. 2 | Employment RestructurinG report | European union edition Q1 2013
contents Summary p/3
METHODOLOGY NOTES:
The Employment
01
Restructuring Report is
compiled by Kelly Services
EU labour market trends p/4 using publicly available data
from official, private and
02
non-profit organisations. It
aims to provide a summary
EU member state labour trends p/6 of the leading factors
contributing to labour
03 and hiring conditions in
the relevant markets,
Most heavily impacted sectors p/9 with a special focus on
up-to-date layoff and
04 job creation statistics.
Reasons for announced job losses p/12
05
European labour market outlook p/13
06
Major job layoffs announced in Europe p/14
07
Major job creations announced in Europe p/23
About this report p/26
graphs
Total reported European job losses and gains resulting from restructuring P/5
Total reported European job losses by country P/7
Total reported European job gains by country P/8
Total reported European job losses by sector P/10
Total reported European job gains by sector P/11
DISCLAIMER: This information is provided with the understanding that it is not guaranteed to be correct or complete and conclusions drawn
from such information are the sole responsibility of the user. Attempts have been made to ensure that this data or documentation is accurate and
reliable; Kelly Services does not assume liability for any damages caused by inaccuracies in this data or documentation. Kelly Services makes no
warranty, expressed or implied, as to the accuracy, completeness, or utility of this information, nor does the fact of distribution constitute a warranty.
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3 | Employment RestructurinG report | European union edition Q1 2013 contents
summary
01 EU Labour
market trends
02 EU member
state labour
trends
summary ➔ The EU has started
2013 on a sombre note,
News of the poor state of
the EU economy in the final
the depressed trading
conditions and subdued
2013, predicting a 0.2%
decline instead of its earlier
03 most heavily
impacted sectors
04 reasons
with growth in negative months of 2012 capped off consumer outlook translated predicted 0.2% expansion. for announced
job losses
territory across the region a bleak year. GDP fell by into a jump in the number of
05 european
and the unemployment 0.5% during the final quarter job layoffs in the final quarter. One important factor labour market
outlook
situation worsening, just of 2012 as the two biggest on the positive side is 06 major
economies, Germany and This contrasts with the job layoffs
as more prosperous signs the re-evaluation of risk.
announced
France, both contracted improving trend that is in europe
began to emerge elsewhere Fears of a eurozone break
more than expected. occurring in both the US and 07 major
in the global economy. up and sovereign debt job creations
China, and even in Japan announced
crisis have dramatically in europe
It was the first calendar year under a new administration
since 1995 where the EU eased. Stockmarkets have about this
determined to pursue an report
region recorded no single aggressive growth strategy. rebounded, reflecting a
quarter of positive growth. new sense of optimism.
Underscoring the trend, in the The employment situation in
the EU remains depressed, There still remains the task
final quarter GDP in Germany,
France and the UK fell 0.6%, with a significant number of restoring budget balance
0.3% and 0.3% respectively. of positions cut in France, and improving liquidity in
the UK and Italy. the banking system. This
The eurozone unemployment means that the whole EU
rate reached 11.7%, up from While growth prospects in
recovery will remain a fragile
10.4% the previous year. the US are brightening, the
process and slower to
return to prosperity in the
While the worst case scenario EU is much more subdued. translate to the private sector
surrounding the sovereign Indeed the IMF has revised than experiences by other
debt crisis did not eventuate, down its GDP forecast for countries around the world.
This contrasts with the improving trend that is occurring in both
the US and China, and even in Japan under a new administration
determined to pursue an aggressive growth strategy.
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4 | Employment RestructurinG report | European union edition Q1 2013 contents
summary
01 EU Labour
market trends
02 EU member
state labour
01
trends
➔ The final months statistics simply confirm what quarter. This was the highest the eurozone fell by 0.4%. If 03 most heavily
impacted sectors
of 2012 saw a marked a difficult period it was. quarterly rate of attrition the IMF is correct and 2013
04 reasons
deterioration in the EU labour in just over a year. produces a 0.2% decline, for announced
job losses
market, with the number or There was a total of 360 then there is only likely to
05 european
instances of major restructures There were a total of 43,902 be a modest improvement labour market
eu labour layoffs increasing significantly
– a total of 215,000 workers announced by employers announced job gains, a slight in the labour market. Even
outlook
06 major
market lost their positions in the – 255 involving job losses improvement on the previous for 2014, the IMF is only
predicting 1% growth, so the
job layoffs
announced
six months to December. and 100 involving job gains. quarter but much too small to in europe
trends (A further five involved close the gap, and well below trajectory for recovery is slight, 07 major
job creations
As the official data now shows, both losses and gains). the long term trend for the EU. unless something changes. announced
in europe
the second half of 2012
about this
was worse than most had In all, 110,337 job losses It is worth remembering report
anticipated, and the labour were reported in the final that during 2012, GDP in
5. home
50000
5 | Employment RestructurinG report | European union edition Q1 2013 contents
summary
01 EU Labour
0 market trends
2006/Q2 2006/Q4 2007/Q2 2007/Q4 2008/Q2 2008/Q4 2009/Q2 2009/Q4 2010/Q2 2010/Q4 2011/Q2 2011/Q4 2012/Q2 2012/Q4
2006/Q3 2007/Q1 2007/Q3 2008/Q1 2008/Q3 2009/Q1 2009/Q3 2010/Q1 2010/Q3 2011/Q1 2011/Q3 2012/Q1 2012/Q3 02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported european job losses and gains for announced
job losses
resulting from restructuring (Q2 2006 to Q4 2012) 05 european
labour market
outlook
250,000
Loss
06 major
job layoffs C
Creation announced
in europe
200,000 07 major L
job creations
announced
in europe
150,000
about this
report
100,000
50,000
0
2006/Q2
2006/Q3
2006/Q4
2007/Q1
2007/Q2
2007/Q3
2007/Q4
2008/Q1
2008/Q2
2008/Q3
2008/Q4
2009/Q1
2009/Q2
2009/Q3
2009/Q4
2010/Q1
2010/Q2
2010/Q3
2010/Q4
2011/Q1
2011/Q2
2011/Q3
2011/Q4
2012/Q1
2012/Q2
2012/Q3
2012/Q4
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
In all, 110,337 job losses were reported in the final quarter.
This was the highest quarterly rate of attrition in just over a year.
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6 | Employment RestructurinG report | European union edition Q1 2013 contents
summary
01 EU Labour
market trends
02 EU member
state labour
02
trends
➔ France recorded year in the majority of EU 4%) prevail in many While France saw the largest 03 most heavily
impacted sectors
the largest number of job countries, but a few have parts of Belgium, the number of announced job
04 reasons
losses during the final bucked the trend, notably Netherlands, Austria and losses by employers, it also for announced
job losses
quarter of 2012 – a total Germany and the UK. the south of Germany. experienced the EU’s largest
05 european
number of job gains. labour market
eu member of 16,392 positions cut,
consistent with an economy
Eurostat has recently updated The stark finding is that those
outlook
06 major
state that essentially marked time
its longer term impacts of
the economic downturn
regions that already had
relatively high unemployment
A total of 12,477 jobs were
created in France, largely
job layoffs
announced
in europe
labour for the duration of 2012.
and highlighted the strong rates have deteriorated faster, as a result of a number of 07 major
job creations
major aerospace and defence
trends Other countries with significant
cuts in employment were
asymmetric nature of the
crisis on regional labour
and youth unemployment
has dramatically increased. initiatives. The UK, Germany
announced
in europe
about this
and Romania all benefitted report
the UK, where 11,362 markets across Europe.
from a number of smaller
employees were made
Not surprisingly, labour individual expansions that
redundant, Italy (11,351)
markets in Spain and Greece involved new hirings.
Belgium (10,419), Spain
have been the hardest hit
(9,865) and Germany (9,527).
by the recession. Germany
There are approximately 26 on the other hand, is the
million people unemployed only country that has seen
across Europe, some two unemployment decline in
million more than a year all regions since 2008.
ago. For the eurozone, the
Interestingly, the disparity
unemployment rate is 11.7%.
across regions has increased
Unemployment rates have over time. Very low rates
risen over the course of the of unemployment (below
7. 5000
home
Q
0 contents
United Kingdom Sweden Republic HungaryDenmank
France Italy Spain Czech
Belgium
Germany Netherlands Romania Portugal
Poland Greece
Ireland Slovakia Finland
7 | Employment RestructurinG report | European union edition Q1 2013
summary
01 EU Labour
market trends
02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported european job losses by country (Q1 2012 to Q4 2012) for announced
job losses
05 european
35,000 labour market
outlook
06 major
30,000 job layoffs
announced
in europe
25,000 07 major
job creations
announced
20,000 in europe
about this
report
15,000
10,000
5,000
0
France
United Kingdom
Italy
Belgium
Spain
Germany
Sweden
Poland
Czech Republic
Netherlands
Greece
Ireland
Hungary
Romania
Slovakia
Denmark
Portugal
Finland
Q1 2012 Q2 2012 Q3 2012 Q4 2012
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
Not surprisingly, labour markets in Spain and Greece have been
the hardest hit by the recession. Germany is the only country
that has seen unemployment decline in all regions since 2008.
8. 5000
home
8 | Employment RestructurinG report | European union edition Q1 2013 contents
summary
01 EU Labour
0
market trends
France
United Kingdom
GermanyRomania Ireland Belgium Poland Sweden
Czech Republic
Italy Hungary Bulgaria Slovakia PortugalLithuania
02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported European job gains by country (Q1 2012 to Q4 2012) for announced
job losses
05 european
16,000 labour market
outlook
06 major
Q
job layoffs
12,000
announced
in europe Q
07 major
job creations
announced Q
Very low rates of in europe
unemployment 8,000 about this
report Q
(below 4%) prevail
in many parts
of Belgium, the 4,000
Netherlands,
Austria and the
south of Germany.
0
France
United Kingdom
Germany
Romania
Ireland
Belgium
Poland
Sweden
Czech Republic
Italy
Hungary
Bulgaria
Slovakia
Portugal
Lithuania
Q1 2012 Q2 2012 Q3 2012 Q4 2012
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
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9 | Employment RestructurinG report | European union edition Q1 2013 contents
summary
01 EU Labour
market trends
02 EU member
state labour
03
trends
➔ The manufacturing from the closure of a steel In the financial services in Europe for research 03 most heavily
impacted sectors
sector featured in both the cold rolling facility by ILVA sector, Spain’s fourth largest and engineering roles.
04 reasons
largest number of job losses in Taranto, Italy, with the bank, Bankia, will lose 6,000 for announced
job losses
loss of 5,000 jobs. Ford is positions as a result of a Also in France, Airbus will
and job creations during 05 european
major restructuring aimed at hire 2,000 new employees labour market
most the final quarter of 2012. also closing a car making
outlook
plant in Genk, Belgium restoring its balance sheet. as part of a 4,000-strong
06 major
heavily There were almost 50,000
manufacturing jobs lost
with 4,300 jobs going.
Manufacturing also accounted
global expansion. job layoffs
announced
in europe
impacted due to restructuring in the Telecommunications will for the largest share of French utilities business, 07 major
job creations
job creations – the largest EDC announced plans to
sectors quarter, approximately see approximately 10,000 announced
coming from hi-tech firm engage 6,000 employees in europe
40% of total job losses. jobs disappear in France,
about this
with Orange and France Safran, which will recruit by the end of 2013. report
Major contributors to the Telecom each announcing 3,000 employees in France
manufacturing losses came separate restructuring plans. and 3,000 from elsewhere
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10 | Employment RestructurinG report | European union edition Q1 2013 contents
0
Manufacturing Financial servicesTransport /storage Construction
Information/communication Retail Public administration & defence Administration
Utilities Health /social work
Mining
Hotels/restaurants
Arts/Entertainment services
Professional Agriculture summary
01 EU Labour
market trends
02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported european job losses by sector (Q4 2012) for announced
job losses
05 european
labour market
50,000 outlook
46,763
06 major
job layoffs
announced
40,000 in europe
07 major
job creations
announced
30,000 in europe
about this
report
20,000 17,690
16,058
10,000
7,307 6,064
4,360 3,863
2,309 2,224 1,119 1,040 924 500 310 206
0
Manufacturing
Information/
communication
Financial services
Retail
Transport /storage
Public administration
and defence
Construction
Utilities
Administration
Health /social work
Mining
Hotels/restaurants
Arts/Entertainment
Professional services
Agriculture
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
Spain’s fourth largest bank, Bankia, will lose 6,000 positions as a result
of a major restructuring aimed at restoring its balance sheet.
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3000 contents
11 | Employment RestructurinG report | European union edition Q1 2013
summary
01 EU Labour
0 market trends
ManufacturingRetail
TransportProfessional services Hotels/restaurants
/storage Health/social work Information/communication
Utilities Educatiom
Administration Arts/entertainmentestate
Financial services Real 02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported european job gains by sector (Q4 2012) for announced
job losses
05 european
labour market
15,000 outlook
06 major
job layoffs
12,272 announced
12,000 in europe
07 major
In France, Airbus job creations
will hire 2,000 new announced
9,000 in europe
employees as part 7,500 about this
of a 4,000-strong report
6,050
global expansion. 6,000
3,380 3,200 2,810
3,000
2,000
1,360 1,360 1,200 940 800
100
0
Manufacturing
Retail
Transport /storage
Professional services
Health/social work
Hotels/restaurants
Utilities
Information/
communication
Education
Administration
Financial services
Arts/entertainment
Real estate
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change