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.
BAE Systems, a manufacturer of defence weapons, has announced plans to cut 167 jobs at its plant in Scotswood, Newcastle. The cuts are blamed on the need to ensure lower costs while maintaining competitive prices for customers. Unite the union argued that the job cuts will be detrimental to the country's ''capability to build and maintain military equipment''. Management has committed to assist the affected staff in finding new roles inside or outside the company. As of November 2nd no date has been given for the implementation of the redundancies.
Eurofound (2009), BAE Systems, Internal restructuring in United Kingdom, factsheet number 69771, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69771.