Changing restructuring regimes in 11 European countries during and after the financial crisis

Abstract

This article draws on longitudinal data to analyse restructuring in 11 EU member states in response to the 2008–2009 financial crisis. It finds that despite the dramatic crisis, restructuring regimes remained rather stable. New policies were adopted and existing policies were reformed, but changes were primarily within the existing regimes, though collectively agreed measures are important. However, in three countries, changes were more radical, indicating a shift in the dominant adjustment and governance mechanisms. These findings have implications for the understanding of how restructuring regimes change and how such changes may be studied, implying that restructuring policies cannot be evaluated in isolation. Any attempt to analyse the impact of restructuring policies on labour market outcomes must take account of the interplay of different policies and how their emphasis and character change over time.

Changes in the Association between European Workers’ Employment Conditions and Employee Well-Being in 2005, 2010 and 2015

“…Between 2005 and 2010, Europe went through a severe economic crisis. No one seems to question that this crisis produced a worsening in employment and job conditions [16,17,23,32,37,40]. Curtarelli et al [33] indicate that the crisis may have influenced workers' subjective perception of their work situation and its effects on their physical and mental well-being.…”

“…The employment condition measures are our exposure variables. We are going to focus our research on the analysis of the employment conditions by distinguishing them from other types of variables such as working conditions or employment relations [5,37,56]. Benach et al [25] and Van Aerden et al [57] clarify that employment conditions have to do with the mutual agreements between employees and their employers about the employment organisation in terms of contract, working hours, etc.…”

“…We chose the years 2005 and 2010 because it is well-known that, in Europe especially, there was a severe economic crisis that had effects on the employment conditions of its citizens [37,38]. We also add the last available European Working Conditions Survey (EWCS6) with data form 2015 [39], to check the trends several years after the crisis and analyse pre-and post-crisis years [5].…”

COVID‐19 and the uncertain future of HRM: Furlough, job retention and reform

“…In this sense, it is useful to draw parallels with the response to previous economic crises. Bergström ( 2019 ) notes that economic crises bring into focus the effectiveness and consequences of specific policy measures aimed at avoiding job loss. Such measures are influenced by the approach to restructuring adopted within specific countries, with Gazier ( 2008 ) categorising ‘regimes of restructuring’ as market‐led, negotiated or state‐led.…”

The Sustainability of Public Social Services: A Qualitative Study

“…The negative consequences in social regulation have also been affected in many European countries [3,4], which have dismantled their social policies [5,6]. The countries of the European Union face a constant challenge of economic progress, social cohesion and political stability [7,8].…”