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.
Metronet, one of the companies responsible for maintaining the London Tube network is cutting 300 jobs. Metronet said there would be no compulsory cuts as part of the restructuring and losses would mainly be administration and backroom posts.
A Metronet spokesman said changes would be discussed with union leaders. A spokesperson for London Underground confirmed it has not approved the job cuts and that it has consistently said Metronet must improve its performance. The Transport Salaried Staffs Association, which represents white collar workers on the Tube, said it was 'shocked and disappointed' at the scale of the job losses.
General secretary Gerry Doherty said the union believed Metronet was under pressure to make job cuts to appease its shareholders and the union would do all it could to resist the job cuts.
Eurofound (2005), Metronet, Internal restructuring in United Kingdom, factsheet number 62156, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62156.