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.
The helicopter maker AgustaWestland is to cut 640 jobs because of a shortage of orders, the company announced at the end of January 2005. The jobs will go from May 2005 at the company's Yeovil plant in Somerset, which employs around 4,000 workers. AugustaWestland said the jobs were going following the successful completion of the Merlin and Apache helicopter orders at the end of last year.
AugustaWestland said it was ‘proceeding with a programme to bring employment levels into line with the current and potential order book'.
Workers were told that 550 full time jobs in Westland Helicopters and a further 90 full time jobs in the transmissions business will be cut, leaving the workforce at 3,300.
Eurofound (2005), Westland Augusta, Internal restructuring in United Kingdom, factsheet number 61076, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61076.