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.
Construction Construction Of Buildings And Infrastructure Engineering Construction Of Buildings 41.1 - Development of building projects
1,200 jobs Number of planned job losses
Announcement Date
10 July 2008
Employment effect (start)
Foreseen end date
Description
UK House-builder Barratt Developments has announced that it is to cut 1,200 within the UK. Two divisions will be closed and other parts of its business will be merged, other measures to manage its current financial challenges include reaching a deal to extend its debt facility by 2 years. The job cuts reflect an industry wide downturn in business blamed on the credit crunch and a drop in the number of affordable mortgages. As of 2008, there is no information on when the job losses will be implemented.
Sources
10 July 2008: BBC Website
Citation
Eurofound (2008), Barratt Developments, Closure in United Kingdom, factsheet number 66826, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66826.
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