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.
Mars, the family-owned sweets maker is to close a plant in Slough that produces Twix, Minstrels and M&Ms. Staff said that the company ‘effectively announced it would close one of its two Slough factories this year'. 'This will result in redundancies for about 600 of the 2,500 UK employees'.
Mars briefed 11,000 European staff on plans to boost efficiency as supermarket chains pressure suppliers to cut prices. Operating profit in Europe fell 15% to £166 million in 2003. Mars planned to close six European factories to save £350 million a year.
Michael Jenkins, director of external relations said that ‘no final decisions have been made' but anger at the Slough factories has intensified as rumours spread that Mars is moving manufacturing to Poland, the Czech Republic and Holland.
Eurofound (2005), Mars, Internal restructuring in United Kingdom, factsheet number 61121, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61121.