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.
Monzo, the UK-based digital bank has announced that it will cut 120 jobs at its head office and in its operations team in London, in response to the negative effects of theCOVID-19 crisis. The cuts are equivalent to around 8 per cent of the bank’s workforce.
The bank said that the news of redundancies was 'heartbreaking.' Monzo is a mobile bank, which was introduced in 2015 under the name Mondo. The bank offers current accounts managed and run entirely through a mobile app.
Eurofound (2020), Monzo Bank, Internal restructuring in United Kingdom, factsheet number 101287, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101287.