Company Restructuring (Green Paper)

In its Restructuring Green Paper, the Commission calls upon all Member States to make use of instruments such as short-time working schemes, working time accounts and corporate work alliances during times of crisis, as they are suitable for safeguarding jobs. Moreover, it proposes reforms of the tax and benefit schemes in order to minimize the impact of the crisis on the labour market. In the case of company restructurings due to economic changes, the Commission requests an early involvement of “all relevant stakeholders” and a harmonisation of parts of the insolvency law. Thus the chances of future adjustment measures of restructuring processes are to be improved. Moreover, “amendments” of employment termination rules are to safeguard a high level of employment and social protection.