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.
Valassis UK, a firm that processes and settles the finances of coupons and money-off vouchers between product manufacturers and retailers, is to cut 240 jobs at its site in Corby. The firm has also stated that the work done by the 240 employees is to be ‘offshored’ to a site that the firm is developing in Poland. The firm has stated that the decision was taken in order to keep the firm competitive, and has said that the work will be moved in the middle of 2008. 60 jobs in the firm’s marketing, finance, and human resources functions will remain in Corby. Charles D'Oyly, managing director of Valassis UK, stated: ‘We have taken this decision to ensure the future competitiveness of Valassis in the UK, and more easily contain future cost increases to our customers. Naturally, we will do everything we possibly can to support our staff through this very difficult process. We have always been a concerned and highly responsible local employer and that's how we will continue to behave.’ Mr. D’Oyly also stated that affected staff would be offered the opportunity to transfer to Poland, but added that he expected few to take up the opportunity.
Eurofound (2007), Valassis UK, Offshoring/Delocalisation in United Kingdom, factsheet number 65914, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65914.