This paper, which is centered on a "macro" approach, does not deal directly with firms’strategies, but it copes with a general reflection on restructuring based on a broad definition of this phenomenon.
It is divided in three parts :
1. The first one reviews the academic literature, mainly the North American one, according to which there would be a link between destabilising external contrainsts (like the opening of the world market, among others) and the emergence and the consolidation of internal stabilisation systems, as social or employment protection for instance. However, the author’s reflection is not limited to the social field : some different policies, such as monetary policies or migration policies, can also contribute to stabilisation.
2. The second part copes with the perceptions and the factors regarding the employees’ fear towards restructurings. In other words, what kind of policies could reduce these fears ?
3. The third one relates to public policies and the institutional interactions bound to ensure the transitions linked to restructurings. More concrete mechanisms are presented in other contributions (see namely R. Peña-Casas).
In conclusion, the author draws some general lessons for the debate on restructurings in the European Union.
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