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.
Yorkshire and the Humber; South Yorkshire; Sheffield
Location of affected unit(s)
Sheffield
Sector
Manufacturing Manufacture Of Basic Metal And Fabricated Metal Products Manufacture Of Basic Metals 24.1 - Manufacture of basic iron and steel and of ferro-alloys
100 jobs Number of planned job losses
Announcement Date
20 January 2016
Employment effect (start)
Foreseen end date
Description
Sheffield Forgemasters has announced that it is to cut 100 jobs. The move comes at a time when the UK steel industry is under considerable strain. The company's products include parts for submarines carrying the Trident nuclear deterrent. Sheffield Forgemasters announced its first ever loss to the end of 2014. The company released a statement saying that it would consult on 'up to 100 redundancies' and that all divisions of the company would be affected. The company, which has operated since 1805 currently employs just under 800 staff. The timetable for the job losses is not yet known; the mandatory consultation must conclude before any job cuts can be made.
Sources
20 January 2016: The Guardian
Citation
Eurofound (2016), Sheffield Forgemasters, Internal restructuring in United Kingdom, factsheet number 86251, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86251.
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