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.
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| European union edition Q1 2013contents 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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| European union edition Q1 2013 contents summary 01 EU Labour market trends 02 EU member state labour trendssummary ➔ 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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| European union edition Q1 2013 contents summary 01 EU Labour market trends 02 EU member state labour01 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 marketeu 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 majormarket 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 europetrends (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
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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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| European union edition Q1 2013 contents summary 01 EU Labour market trends 02 EU member state labour02 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 marketeu member of 16,392 positions cut, consistent with an economy Eurostat has recently updated The stark finding is that those outlook 06 majorstate 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 europelabour 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 defencetrends 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
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United Kingdom Sweden Republic HungaryDenmank France Italy Spain Czech Belgium Germany Netherlands Romania Portugal Poland Greece Ireland Slovakia Finland7 | 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.
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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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| European union edition Q1 2013 contents summary 01 EU Labour market trends 02 EU member state labour03 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 marketmost 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 majorheavily There were almost 50,000 manufacturing jobs lost with 4,300 jobs going. Manufacturing also accounted global expansion. job layoffs announced in europeimpacted 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 tosectors 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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| 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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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