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.
Manufacturing Manufacture Of Rubber And Plastic Products And Other Non-Metallic Mineral Products Manufacture Of Other Non-Metallic Mineral Products 23.32 - Manufacture of bricks, tiles and construction products, in baked clay
375 jobs Number of planned job losses
Announcement Date
3 June 2020
Employment effect (start)
Foreseen end date
Description
Ibstock Brick, the British brick manufacturer has announced that it will cut 375 jobs, approximately 15 per cent of its workforce, as part of a restructuring plan.
A statement by the company said that the restructuring was necessary to compensate for the negative effect of the COVID-19 pandemic on the construction sector. Sales of the company's products had decreased by 75 per cent since the beginning of April.
Ibstock Brick is the biggest brick maker in the UK, which also operates in the United States. The UK’s second largest brick maker, Forterra, has announced redundancies on the same day.
Eurofound (2020), Ibstock Brick, Internal restructuring in United Kingdom, factsheet number 101257, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101257.
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