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.
Financial Services Financial And Insurance Activities Financial Service Activities, Except Insurance And Pension Funding 64 - Financial service activities, except insurance and pension funding
150 - 600 jobs Number of planned job losses
Announcement Date
4 November 2004
Employment effect (start)
5 November 2004
Foreseen end date
Description
More than 150 employees of Collins Stewart Tullett have lost their jobs on 4 November 2004 as a result of the broking firm's takeover of rival Prebon. The redundancies are the first stage of the cuts expected to the 4,000-strong workforce as Collins Stewart Tullett merges its money broking arm with Prebon's. As many as 600 jobs could be lost following the transaction, which was outlined in late September 2004.
Sources
5 November 2004: The Guardian
Citation
Eurofound (2004), Collins Stewart Tullett, Merger/Acquisition in United Kingdom, factsheet number 60730, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/60730.
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