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.
Insurance firm Scottish Widows has announced the closure of its Chatham operation, threatening 250 jobs. The company, owned by Lloyds TSB, is transferring 75 of the positions based in the Kent town to India. Other employees face being moved to Tonbridge or Edinburgh, or redundancy. The Amicus union said it was deeply concerned at the job losses and did not want to see the organisation disappear in a 'death by a thousand cuts'. Workers leaving the Chatham office on Monday confirmed the news. In a statement, Amicus said it had received an assurance from Scottish Widows that the extension of the company's plan to offshore more work would not lead to any job losses. David Fleming, national secretary, said: 'We are engaging with the company regarding their longer term offshoring strategy.' 'Although there are no compulsory redundancies on this occasion, we want to send a clear message that the union takes a "zero tolerance" approach to compulsory redundancies from offshoring.'
Eurofound (2006), Scottish Widows, Offshoring/Delocalisation in United Kingdom, factsheet number 64166, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64166.