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.
Retail Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.13 - Agents involved in the sale of timber and building materials
700 jobs Number of planned job losses
Announcement Date
19 November 2008
Employment effect (start)
Foreseen end date
Description
SIG, a company that provides building and insulation materials to the construction industry, has announced that it is to cut 700 jobs across the UK. This comes as part of a wider round of 900 Europe-wide redundancies, with 130 further jobs to go in Ireland and 70 across at other sites across Europe. The Sheffield-based firm is to close sixty-five of its trading sites, although as of 23 November 2008 it is not known which sites will close or when these cuts will be made. The company attributed the redundancies to the slowdown in the construction sector.
Sources
19 November 2008: The Guardian
19 November 2008: BBC News
Citation
Eurofound (2008), SIG, Internal restructuring in United Kingdom, factsheet number 67428, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67428.
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