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.
SPS Technologies, the US-based manufacturer and supplier of aerospace nuts, bolts, and associated products has started redundancy consultation with up to 420 of its employees across four production sites in the Midlands region of England.
According to the media, the redundancies are planned to take place in Annesley (around 100 jobs), Mansfield (around 40 jobs), Leicester (around 200 jobs) and Rugby (around 100 jobs).
An officer of Unite referred to the planned redundancies as “unnecessary” and called on the company to put employees on temporary paid leave under the UK government’s Coronavirus Job Retention Scheme instead of cutting jobs.
SPS Technologies is part of PCC (Precision Castparts Corporation), the US-based global manufacturer of complex metal components and products, including aerospace applications.
Eurofound (2020), SPS Technologies, Internal restructuring in United Kingdom, factsheet number 101305, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101305.