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.
Visitor centre, the Titanic Belfast has announced plans to reduce its workforce by 75 jobs due to closure of the venues due to the COVID-19 pandemic. Titanic Belfast, usually employing around 300 people, started formal consultation with staff over the potential redundancies.
The centre, which first opened in 2012, was forced to close on March 18 2020 after the UK lockdown was imposed. While it is due to re-open at the beginning of August, the number of visitors is projected to be around one-third lower than before the onset of the pandemic, as the international market is not expected to pick up for some time. The majority of visitors after re-opening are expected to be local people but the domestic market only comprised around 11 percent of business prior to the pandemic.
The company has said that in addition to voluntary redundancies, it will also consider career breaks, part-time positions and job shares.
While not included in the figure of 75 job losses, casual workers on zero hours contracts will also be affected, taking the total number of people impacted by the restructure to between 150 and 200.
Eurofound (2020), Titanic Belfast, Internal restructuring in United Kingdom, factsheet number 101264, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101264.