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.
JCB, the British company that designs and manufactures equipment for construction, agriculture and waste handling, has announced plans to make redundant 950 employees and 500 workers employed through the Guidant employment agency at its 10 plants in Derbyshire and Staffordshire in England and in north Wales.
JCB’s chief executive said the company had to 'adapt to this new economic reality' in the wake of the COVID-19 pandemic and cost saving measures were necessary to ensure the long-term sustainability of the business.
A representative of the trade union Unite criticised JCB’s decision for not keeping workers on temporary leave under the UK government’s Coronavirus Job Retention Scheme, and a representative of the GMB union said the news was 'devastating'.
JCB is a family-run business that was founded in 1945 in Staffordshire, England. It currently employs 6,700 people in the UK, either directly or through agencies.
Eurofound (2020), JCB, Internal restructuring in United Kingdom, factsheet number 101310, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101310.