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.
Tate, the British Arts organisation, has announced plans to cut 120 full-time equivalent jobs among its gallery staff as part of a cost-cutting programme. The job cuts are equivalent to 12% of the organisation’s workforce.
A statement by Tate’s senior leadership team said the job cuts are vital for the organisation’s survival because the impact of the COVID-19 pandemic had reduced visitor numbers and Tate's income.
The director of the organisation declared that the restructuring consists in a voluntary redundancy scheme, however they 'cannot rule out having to move to compulsory redundancy in 2021 to meet the necessary level of reductions'. A representative of the Prospect trade union welcomed the decision to offer voluntary redundancies and called on the UK government to support the cultural heritage sector.
Tate is a network of art galleries and museums, located in London (Tate Britain and Tate Modern), Liverpool and St Ives. In Summer 2020, Tate Enterprises, the commercial arm of the organisation, announced 295 redundancies.
Eurofound (2020), Tate, Internal restructuring in United Kingdom, factsheet number 102810, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102810.