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.
Vertu Motors, the British car dealership chain has announced that it plans to cut 345 jobs, approximately 6% of its workforce across the UK.
The company’s chief executive officer explained that the COVID-19 crisis had indirectly contributed to the job cuts: the company had introduced new online sales software and customers were happy to use it, making jobs in show rooms redundant.
Vertu Motors was founded in 2006 and it has a network of 130 show rooms across the UK as well as a contact centre in the north east of England.
Eurofound (2020), Vertu Motors, Internal restructuring in United Kingdom, factsheet number 101563, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101563.