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.
St James’ Place (SJP), the UK-based multinational wealth management firm, has confirmed that it will make 200 jobs redundant in the UK in early 2021. The redundancies will not affect the company’s advisers. Voluntary redundancy and redeployment will be offered to the affected staff.
The CEO said the main objective of the restructuring was to save costs by ‘simplifying’ the organisation after an internal review. He added that although it was a ‘very tough decision’ to cut jobs, it was necessary to ensure the company’s continued success.
SJP was founded in the early 1990s and it currently has over 700,000 clients. SJP is the largest financial adviser in the UK, and the company also has offices in Hong Kong, China, and Singapore.
Eurofound (2021), St James' Place, Internal restructuring in United Kingdom, factsheet number 103200, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/103200.