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.
Reuters has postponed the launch of a multi-million pound editorial system and ordered a £22 million cut in its editorial budget. Journalists at the group's UK news operation are considering strike action after senior management ordered a budget reduction and relocated jobs abroad. UK staff were informed of the budget reduction early in November 2004 and Reuters journalists believe the £22 million cost saving equates to the loss of up to 250 jobs from the financial information group's news division, which employs 2,300 people. However, Reuters executives have not indicated the scale of the job losses.
Eurofound (2004), Reuters, Internal restructuring in United Kingdom, factsheet number 60748, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60748.