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.
Marston’s, the British pub and brewery group has announced that it will cut 2,150 jobs across the UK, in response to the newly introduced Covid-19 restrictions and the end of the government’s Coronavirus Job Retention Scheme. The source mentioned that the company was also highly indebted.
A statement by the company said the tighter new restrictions were 'disappointing' and added that it was planning to conduct 'a full review of overhead costs' by the end of the year.
The trade union Unite regrets the job cuts news and called for government intervention to support the hospitality sector.
Marston’s, formerly known as Wolverhampton & Dudley Breweries is one of the largest pub operators in the UK. It operates 1,400 pubs, restaurants, cocktail bars, and hotels, and prior to the pandemic it employed 14,000 people.
Eurofound (2020), Marston's, Internal restructuring in United Kingdom, factsheet number 102261, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102261.