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2013


employment
restructuring
               1
report
european union edition
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.
home

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.
home

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
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.
home

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
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.
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
home

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
home

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.
home
                                          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
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013
E.U. Employment Restructuring Report Q1 2013

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E.U. Employment Restructuring Report Q1 2013

  • 1. 2013 employment restructuring 1 report european union edition
  • 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.
  • 3. home 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.
  • 4. home 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.
  • 6. home 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
  • 9. home 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
  • 10. home 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.
  • 11. home 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