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.
Eurotunnel is cutting 900 jobs under its voluntary redundancy programme. The job cuts, expected to be completed by summer 2006, will reduce the company's workforce to some 2,300, just above the staffing levels when it first opened in 1994. The reductions will be split roughly equally between Britain and France. The chairman and chief executive, Jacques Gounon, said: 'we need a company that is more flexible, more reactive to our markets and more in tune to the needs of our clients.' Eurotunnel is in talks with its creditors over £6 billion of debt.
Eurofound (2005), Eurotunnel, Internal restructuring in European Union, factsheet number 62421, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62421.