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.
Oxfam, the UK-based international development charity has announced, a restructuring plan which includes about 200 job cuts at the organisation’s UK offices across the country and at a warehouse in Bicester, England.
The chief executive said that the organisation’s already weak financial position and the negative impact of the COVID-19 pandemic made it urgent to cut costs.
An officer of the trade union Unite argued that the pandemic had only exacerbated the effect of mistakes made by the senior management. In addition, Unite underlined that the company should not cut jobs since it can still utilize funds provided by the UK government's coronavirus job retention scheme and that, as an extreme remedy, a plan for voluntary redundanciues should be put in place.
Oxfam GB is part of the network of Oxfam organisations whose main aim is to alleviate global poverty and injustice. In May Oxfam announced the decision to close offices in 18 countries and cut 1,500 jobs globally.
Eurofound (2020), Oxfam GB, Internal restructuring in United Kingdom, factsheet number 101113, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101113.