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.
Network Rail is a not-for-profit company that took over Railtrack in 2002. As part of a slash costs plan, 2,000 jobs will be shed by the end of 2006. On 14 November 2003, 603 managers (15% of the managerial team) have been sacked in a quick-fire 24-hour cull. After complaints from unions, the Railway Inspectorate has expressed concerns about the safety assessment of the redundancies, in particular the departure of 60 staff in safety-critical roles. Network Rail announced in August 2004 a further 890 redundancies as a part of the restructuring. The job losses came about as the company dismantled its regional structure and took the day-to-day upkeep of tracks and stations in-house.
Eurofound (2003), Network Rail, Internal restructuring in United Kingdom, factsheet number 59619, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59619.