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.
Financial Services Financial And Insurance Activities Insurance, Reinsurance And Pension Funding, Except Compulsory Social Security 65.1 - Insurance
350 jobs Number of planned job losses
378 jobs Number of planned job creations
Announcement Date
25 March 2015
Employment effect (start)
Foreseen end date
Description
Insurance company ERS has announced plans to restructure its operations. The plans are to simplify the company's structure by focusing on two offices in Swansea and London. The Brentwood office in Essex will close and the 350 staff there have been placed on notice of redundancy. While the Brentwood site will close, staff numbers at the London site are expected to increase from 30 to 240. At the Swansea site employee numbers will increase from 230 to 398. The company noted that the decision to close the Brentwood site and concentrate on the other offices had been made after several months of planning and was part of a wider plan which is focused on future growth for the business.
Sources
25 March 2015: Brentwood Gazette
Citation
Eurofound (2015), ERS, Internal restructuring in United Kingdom, factsheet number 79359, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79359.
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