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.
Plymouth-based luxury motor boat builder Princess Yachts has announced that there will be 257 job cuts, and 56 voluntary redundancies. The cuts follow the completion of a 90 day consultation period since March when it was announced that up to 450 jobs were at risk. Dave Springbett, spokesman for Unite union, said: "I am pleased to say we avoided a lot larger number of redundancies but unfortunately I do not think we were ever in a position where we could say we are having no redundancies." Princess Yachts declined to comment on the redundancies. 'No details were given on the date by which job losses are expected to be completed.
Eurofound (2009), Princess Yachts, Internal restructuring in United Kingdom, factsheet number 69062, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69062.