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.
Staffordshire based manufacturer of construction equipment JCB has announced plans to cut its workforce by 400. The company stated that it has been forced into this measure due to a dramatic slow down in the global market for construction equipment. JCB has eight factories in Staffordshire, one in Derbyshire and two in Wrexham, North Wales. Although it has not been publicly announced where the job losses will come from, it is being reported that the decision will affect sites across the UK. Formal consultation with trade unions has already started as determined by legislation. The GMB union has stated that it will do what it can to avoid the need for compulsory redundancies and will attempt to lessen the effect on the workforce.
Eurofound (2015), JCB, Internal restructuring in United Kingdom, factsheet number 84959, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84959.