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.
GKN, an engineering firm, is to cut 564 jobs at sites across the UK. The affected plants are all involved in the manufacture of parts for car manufacture. GKN's plant at Hamstead near Birmingham will close by the end of the year, and its Walsall site will close by the middle of 2010, with a combined loss of 323 jobs. The company will also cut 150 jobs at its Telford site, 35 jobs at its Luton site and 56 with the closure of the Burnley site. The company employs 42,000 people worldwide, although it is not known how many of these employees are UK-based.
Eurofound (2009), GKN, Internal restructuring in United Kingdom, factsheet number 68287, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68287.