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.
Over 100 workers are to lose their jobs at electrical firm Hotpoint's factory in Cambridgeshire. The parent company Indesit, which owns the factory in Peterborough, said it was planning to cut 105 jobs to help it remain profitable. The firm, employs about 1,500 people at the site, where the company's UK headquarters is also based. Those affected are the night shift, who are mostly factory workers, but some clerical staff will also be hit. The company is initially asking for voluntary redundancies, but said it cannot rule out compulsory cuts. The job losses will be phased throughout 2006.
Eurofound (2006), Hotpoint, Internal restructuring in United Kingdom, factsheet number 62798, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62798.