The Kelly Restructuring Index is compiled by Kelly Outsourcing Group, a division of Kelly Services. It aims to provide a summary of the leading factors contributors to labor and hiring conditions in the relevant markets, with a special focus on up-to-date layoffs and job creation statistics. It is compiled from publicly available data from official, private and not-for-profit organizations.
2. 2 | Employment RestructurinG report | European union edition Q3 2012
contents Summary p/3
METHODOLOGY NOTES:
The Kelly Restructuring
01
Index is compiled by Kelly
Outsourcing Group, a
EU labour market trends p/4 division of Kelly Services.
It aims to provide a
02
summary of the leading
factors contributing to
EU member state labour trends p/6 labour and hiring conditions
in the relevant markets, with
03 a special focus on up-to-date
layoffs and job creation
Most heavily impacted sectors p/9 statistics. It is compiled from
publicly available data from
04 official, private and not-for-
profit organizations.
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/22
About this report p/27
graphs
Total reported European job losses and gains resulting from restructuring P/5
Total reported European job losses by country P/7
Total reported European job gains by country P/8
Total reported European job losses by sector P/10
Total reported European job gains by sector P/11
DISCLAIMER: This information is provided with the understanding that it is not guaranteed to be correct or complete and conclusions drawn
from such information are the sole responsibility of the user. Attempts have been made to ensure that this data or documentation is accurate and
reliable; Kelly Services does not assume liability for any damages caused by inaccuracies in this data or documentation. Kelly Services makes no
warranty, expressed or implied, as to the accuracy, completeness, or utility of this information, nor does the fact of distribution constitute a warranty.
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3 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
market trends
02 EU member
state labour
trends
summary ➔ The European Union’s
labour market suffered further
downgrades in national
GDP have knocked business
money supply expansion,
aimed at putting some zing
with the go-ahead for a
Euro-wide rescue package
03 most heavily
impacted sectors
04 reasons
weakness, with job losses and consumer sentiment, into the tepid US recovery, from Germany’s high court, for announced
job losses
outstripping gains in the first and reinforced a cycle of albeit at the expense the two measures have 05 european
labour market
half of 2012, as the region’s adverse events that are of inflationary risk. substantially shifted sentiment. outlook
economic deterioration thwarting recovery. 06 major
The ECB’s intervention had As things stand, the economic job layoffs
continued. announced
Amid the gloom, a significant an immediate positive effect position is challenging in europe
The precarious break has come with the move on borrowing costs, and enough. There has been a 07 major
job creations
financial state of by the European Central Bank effectively removed one discernible deterioration announced
in europe
key EU economies (ECB) to purchase the bonds factor that could have easily in economic performance about this
is feeding into of stressed EU economies, spiralled into a global banking in the key economies of report
a debilitating jobs perhaps forestalling a and credit slowdown. Germany, France and
market, characterised more serious setback, and the United Kingdom.
There is no guarantee that
by stalled jobs growth, even optimistically, ruling
this alone will spark renewed Hopes of a return to economic
and sustained levels a line under the 2011–12
confidence, but failure to growth in the EU this year
of retrenchments. sovereign debt crisis.
act would have seen the EU have all but evaporated, and
Persistent negative news This has been supplemented tracking down an unchartered there is a prospect of only
from financial markets and by the US Federal Reserve’s and hazardous path. Coupled modest growth in 2013.
There has been a discernible deterioration in economic performance
in the key economies of Germany, France and the United Kingdom.
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4 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
market trends
02 EU member
state labour
01
trends
➔ Labour market The unemployment rate in Stagnant economic growth Germany performed slightly 03 most heavily
impacted sectors
weakness persisted during the EU stood at 10.4% in July, across the region is pushing better than forecast with
04 reasons
the second quarter of 2012, up from 9.6% a year earlier, unemployment into a zone a 0.3% increase in GDP in for announced
job losses
although the gap between representing almost 25 million that would have seemed the June quarter, but the
05 european
unimaginable five years picture is muted, with the labour market
eu labour
job gains and job losses people out of work, about outlook
was somewhat better two million more than a year ago before the onset of OECD predicting the region’s
06 major
market than in recent quarters. ago. Within the eurozone, the
the global financial crisis. powerhouse economy will
slip into recession in the
job layoffs
announced
in europe
trends There was a total of 335 cases
unemployment has edged
even higher to 11.3%.
Unfortunately, the picture in second half of 2012. 07 major
job creations
of announced job restructuring most of the leading economies announced
seems to be deteriorating France recorded its third in europe
in the three-month period, of
The lowest unemployment about this
which 193 involved job losses with weakness expected to successive quarter of zero report
rates are in Austria (4.5%),
and 137 involved job creation. last throughout the remainder growth, with its central bank
Netherlands (5.3%) and
of 2012 and into 2013. The predicting a mild contraction
According to the European Germany and Luxembourg
eurozone bloc contracted by in the third quarter. The UK
Monitoring Centre on Change, (both 5.5%). The highest 0.2% in the second quarter. has suffered three quarters
this resulted in a total of rates are in Spain (25.1%) of negative growth and
72,793 job losses, compared and Greece (23.1%). is firmly in recession.
with 47,454 job gains, for a Elsewhere, the UK has 8%
net loss of 25,339 positions. unemployment, France has
10.3% and Italy has 10.7%.
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50000
5 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
0 market trends
2005/Q4 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
2006/Q1 2006/Q3 2007/Q1 2007/Q3 2008/Q1 2008/Q3 2009/Q1 2009/Q3 2010/Q1 2010/Q3 2011/Q1 2011/Q3 2012/Q1
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 (Q4 2005 to Q2 2012) 05 european
labour market
outlook
250,000
Loss
06 major
job layoffs C
Creation announced
L
in europe
200,000
07 major
job creations
announced
in europe
150,000
about this
report
100,000
The unemployment
rate in the EU stood
50,000
at 10.4% in July –
representing almost
25 million people out 0
2005/Q4
2006/Q1
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
of work, about two
million more than a
year ago.
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
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6 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
market trends
02 EU member
state labour
02
trends
➔ The weakness in involved British retailer Clinton announcement that it There were also healthy job 03 most heavily
impacted sectors
Germany’s economy saw it Cards, which was placed will shed 3,700 positions gains at UK consumer co-op,
04 reasons
shed almost 15,000 positions in administration, with the as part of a global plan Co-operative Group, which for announced
job losses
in the second quarter of loss of 2,800 positions and to slash 10,000 jobs. foreshadowed 3,000 new
05 european
jobs over a five-year period. labour market
eu member 2012 – the highest in the EU. the closure of 350 stores.
In Spain, a banking outlook
06 major
state One of the biggest reductions Italy saw 8,869 jobs lost in
merger between Banco
Sabadell and Banco CAM
Also in the UK, Offshore
Groups Newcastle, will create
job layoffs
announced
in europe
will occur at Lufthansa, where the quarter, as Monte dei
labour 2,500 jobs will disappear Paschi bank announced plans
will see 450 offices close up to 1,000 jobs associated 07 major
job creations
and 2,200 jobs cut. with renewable energy.
trends due to restructuring. to close 400 branches, with
announced
in europe
the loss of 4,600 positions. The UK enjoyed the largest In Portugal, telco hardware about this
The second largest country report
instance of job creation in company, Nokia Siemens
for job reductions was the There were significant job the quarter, with retail chain Networks will set up a new
UK, with 9,302 job losses. losses in Finland (6,423), Sainsbury’s announcing the business unit in Lisbon,
One of the biggest cases largely driven by Nokia’s creation of 6,000 new jobs with 1,500 jobs created.
over the next 12 months.
In Romania, the German
car parts maker Continental
Automotive Romania will
create 1,000 new positions
by the end of the year.
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3000 Q
7 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
0
United KingdomSpain Sweden Belgium Austria Norway
GermanyFinland France Ireland
ItalyPoland Romania Denmank
Netherlands Slovenia Republic
PortugalBulgaria Slovakia
Czech market trends
02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported european job losses by country (Q3 2011 to Q2 2012) for announced
job losses
05 european
15,000 labour market
outlook
06 major
job layoffs
12,000 announced
in europe
07 major
job creations
9,000 announced
in europe
about this
report
6,000
3,000
There were significant
job losses in Finland
(6,423), largely driven by 0
Poland
Italy
Spain
France
Finland
Ireland
Austria
Norway
Sweden
Slovakia
Belgium
Romania
Slovenia
Bulgaria
Germany
Portugal
Netherlands
Denmark
United Kingdom
Czech Republic
Nokia’s announcement
that it will shed 3,700
positions as part of a
global plan to slash
10,000 jobs.
Q3 2011 Q4 2011 Q1 2012 Q2 2012
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
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5000
8 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
0 market trends
United Kingdom
Poland Romania France Germany Ireland Portugal
Czech Republic
Spain Sweden HungaryLithuania Bulgaria Slovakia Italy
02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported European job gains by country (Q3 2011 to Q2 2012) for announced
job losses
05 european
25,000 labour market
outlook
06 major
Q
job layoffs
20,000 announced
in europe Q
07 major
15,000
job creations
announced Q
in europe
about this
report Q
10,000
5,000
The UK enjoyed the 0
Czech Republic
Italy
Spain
France
Ireland
Poland
Sweden
Slovakia
Bulgaria
Hungary
Portugal
Romania
Lithuania
Germany
Kingdom
United
largest instance of
job creation in the
quarter, with retail
chain Sainsbury’s
announcing the
Q3 2011 Q4 2011 Q1 2012 Q2 2012
creation of 6,000
new jobs over the Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
next 12 months.
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9 | Employment RestructurinG report | European union edition Q3 2012 contents
summary
01 EU Labour
market trends
02 EU member
state labour
03
trends
➔ The manufacturing The contraction in Other sectors to face cuts 03 most heavily
impacted sectors
sector across Europe suffered manufacturing reflects the include financial/insurance,
04 reasons
the biggest job losses, as well wider global picture, with with 10,063 losses, and for announced
job losses
as the biggest job gains. China’s manufacturing wholesale/retail, with almost
05 european
output easing, and US 10,000 positions gone. labour market
most A total of 27,143 jobs manufacturing at a standstill.
outlook
06 major
heavily disappeared from
manufacturing, at the There were also substantial
Aside from the manufacturing
sector, which also saw the
job layoffs
announced
in europe
impacted same time as 16,255 were job losses in the transport/ largest job creations, the other 07 major
job creations
created, for a net loss of storage sector, with sector to see improvement
sectors almost 11,000 positions. almost 12,000 jobs cut. was wholesale/retail, with
announced
in europe
about this
12,462 positions created. report
10. 5000
home
10 | Employment RestructurinG report | European union edition Q3 2012 contents
0
summary
Manufacturing Financial services
Transport /storage Information/communicationUtilities
Retail Construction administration & defence
Public Administration
Education Mining /social work servicesOther services
Health Professional
Hotels/restaurants
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 (Q2 2012) for announced
job losses
05 european
labour market
30,000 outlook
27,143 06 major
job layoffs
25,000 announced
in europe
07 major
job creations
20,000 announced
in europe
about this
15,000 report
11,973
10,063 9,555
10,000
6,548
5,000
2,727 2,275 1,943 1,635
1,289
400 183 160 100 70
0
Manufacturing
Transport /storage
Financial services
Retail
Information/
communication
Construction
Utilities
Public administration
& defence
Administration
Education
Mining
Health/social work
Professional services
Hotels/restaurants
Other services
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change
The contraction in manufacturing reflects the wider global
picture, with China’s manufacturing output easing, and
US manufacturing at a standstill.
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4000
11 | Employment RestructurinG report | European union edition Q3 2012 contents
2000 summary
01 EU Labour
0 market trends
Manufacturing
Information/communication
Retail Professional services/storage Financial services Health/social work Hotels/restaurantsestate
Transport Mining Administration Construction Real Arts/entertainment
Utilities 02 EU member
state labour
trends
03 most heavily
impacted sectors
04 reasons
total reported european job gains by sector (Q2 2012) for announced
job losses
05 european
labour market
18,000
outlook
16,255
06 major
16,000
job layoffs
announced
14,000 in europe
12,462 07 major
12,000 job creations
announced
in europe
10,000
about this
report
8,000
6,000 5,029
4,590
4,000 3,522
1,780 1,415 1,400
2,000
751 600 550 500 350 335
0
Manufacturing
Retail
Information/
communication
Professional services
Transport/storage
Mining
Financial services
Administration
Health/social work
Construction
Hotels/restaurants
Real estate
Arts/entertainment
Utilities
the other sector to
see improvement was
wholesale/retail,
with 12,462 positions
created.
Source: European Restructuring Monitor (ERM), European Monitoring Centre on Change