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.
Oil company Petrofac has announced that it has started collective consultation on plans to shed 160 jobs. The consultation is expected to conclude by the end of January 2016. These jobs cuts are a response to industry-wide pressures which have seen other oil companies also shed staff. The company operates sites in Aberdeen and Liverpool and has said that it expects job losses to be shared across its UK operations. A spokesperson for Petrofac noted that the proposed job losses accounted for 'less than 10% of our entire UK population', which currently stands at 1,900 employees. The time-scale for the restructuring has not yet been announced.
Eurofound (2016), Petrofac, Internal restructuring in United Kingdom, factsheet number 86205, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86205.