Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The British aerospace Rolls-Royce has announced 8,000 job cuts worldwide after the company was forced to cut production during the Covid-19 pandemic. The aeroplane engine manufacturer employs 52,000 people worldwide, with 23,000 staff in the UK. The unions have been informed and Rolls-Royce is expected to tell staff the actual number of job losses by the end of May. The Financial Times first reported the potential job losses, and said the restructuring plan 'would shrink the workforce...by up to 15%'. Rolls-Royce expects to deliver only 250 engines this year, just over half its previous expectation of 450.
Eurofound (2020), Rolls-Royce, Internal restructuring in World, factsheet number 100707, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100707.