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.
Aircraft firm General Electric Aviation has announced that 173 jobs are at risk. The proposed cuts which would affect the aircraft engine servicing plant in Prestwick, Scotland are as a result of work being moved from GE Caledonian to Evergreen Aviation Technologies which is based in Taiwan (joint venture). If the planned cuts are made, this will reduce the size of the workforce to 500; four years ago the site employed 800.
The company announced the proposed measures to workers on 8th May 2014 and noted that the move was necessary in order to remain competitive. General Electric also noted that there would be a formal consultation lasting a minimum of 45 days before reaching a final decision. The Unite union has commented that it is committed to minimising the impact of these proposals and will be trying to make the case for retaining as many jobs as possible at the Prestwick site.
Eurofound (2014), General Electric Caledonian, Offshoring/Delocalisation in United Kingdom, factsheet number 77093, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77093.