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.
Coventry based utility company Severn Trent Water has announced plans to cut up to 500 jobs. The job cuts follow merging of the sewerage and water supply divisions. The 500 job losses will come from the company's management and support departments, though it is not yet known from which sites the job losses will occur. In addition to the 500 job losses, the company also announced that it is to create 100 jobs in front line roles.
The company has confirmed that it will work with the recognised trade unions (Unison, GMB and Unite) to minimise the requirement for compulsory redundancies; volunteers will be sought in the first instance from areas which have been selected for reductions.
Eurofound (2014), Severn Trent Water, Internal restructuring in United Kingdom, factsheet number 77742, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/77742.