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.
Severn Trent Water has announced 350 job losses at the same time as confirming a 15% price rise. The company, which provides water for most of the Midlands, said the cuts are needed to keep bills low and create revenue for investment in services. Unison regional organiser Andy Main said: 'Our members will struggle to understand why, after a positive price review, jobs need to be lost'. In the last five years the company has already lost 1,100 jobs and cut costs to the bone. These latest job cuts will seriously affect customer service.
Eurofound (2005), Severn Trent Water, Internal restructuring in United Kingdom, factsheet number 61039, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61039.