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.
Manufacturing Manufacture Of Wood And Paper Materials Manufacture Of Paper And Paper Products 17.1 - Manufacture of pulp, paper and paperboard
135 jobs Number of planned job losses
Announcement Date
21 February 2006
Employment effect (start)
Foreseen end date
31 May 2006
Description
Packaging firm DS Smith blamed soaring energy costs and a fall in sales as it announced plans to close one of its paper mills, with the loss of 135 staff. Sudbrook Mill, Monmouthshire, is losing £3 million a year and its fuel bills have more than doubled over the past three years. The mill, part of Smith's St Regis division, makes 150,000 tonnes of speciality cardboard packaging a year. Demand has fallen as customers switch to lower-cost alternatives, the firm said. The mill is expected to close by the end of May 2006, with about a third of the estimated £22 million closure costs going on redundancy payments.
Sources
21 February 2006: The Guardian
21 February 2006: BBC News
Citation
Eurofound (2006), DS Smith, Closure in United Kingdom, factsheet number 62965, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62965.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
