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.
Construction Specialised Construction Activities Specialised Construction Activities 43.99 - Other specialised construction activities n.e.c.
113 jobs Number of planned job losses
Announcement Date
7 April 2015
Employment effect (start)
30 June 2015
Foreseen end date
30 June 2015
Description
Lowestoft based engineering company AKD Engineering has announced that it is to close with the loss of 113 jobs. The company which provides services to the oil and gas industry has confirmed that the closure is due to happen by June 2015. The company had undergone a restructuring in 2014, but with the continued low price of oil, it announced that it was unable to continue as oil and gas companies made cost savings and cut down on investment. The company had thought it would be able to continue if the oil price was 80 USD per barrel, but in March it fell below 50 USD.
Sources
7 April 2015: BBC Website
Citation
Eurofound (2015), AKD Engineering, Closure in United Kingdom, factsheet number 79363, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79363.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
