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.
Home insulation company, Mark Group has announced plans to reduce the size of its UK workforce by 670 jobs. This equates to around one-quarter of the 2,500 strong UK-based workforce, with the company reported as saying that the job losses would be spread evenly across the UK. Headquartered in Leicester, the company has launched a redundancy programme and has started a 45-day consultation period with the affected workers. An industry spokesperson from the Sustainable Energy Association attributed the job cuts to a change in the UK Government’s Energy Company Obligation (ECO) scheme. In April 2014, the UK Government announced that it would reduce the amount of investment that energy companies are required to put into energy efficiency. The policy change has seen the amount of home insulation being installed under the ECO scheme decrease by one third.
Eurofound (2014), Mark Group, Internal restructuring in United Kingdom, factsheet number 77546, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77546.