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.
Spirit Aerosystems, the multinational aircraft manufacturer, has announced plans to cut 183 jobs in Prestwick, Scotland by the middle of August 2020. In order to individuate the 183 workers to be dismissed, the company is offering a voluntary redundancy scheme to its 1,100 employees at the site.
A spokesperson for the company said that the impact of COVID-19 on the aviation industry has reduced the demand for the company’s products and the job cuts are part of the cost saving plan.
Local politicians and representatives of the aviation and aerospace industries have called on the UK government to extend the Coronavirus Job Retention Scheme for employers in the aviation and aerospace sectors beyond October, because these sectors are expected to take recover slowly from the impact of the pandemic.
Spirit AeroSystems designs and builds ‘aerostructures’ for commercial and defence aircraft. The company is headquartered in the USA and has production sites in North America, Europe and Asia.
Eurofound (2020), Spirit Aerosystems, Internal restructuring in United Kingdom, factsheet number 101183, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101183.