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.
Major supermarket chain, Asda has confirmed that it will reduce the workforce of its retail network by 500 jobs. Consultation with 5,000 staff employed in Asda’s stores commenced in January 2016 when the company announced a broad restructuring program called Project Renewal. While approximately 200 retail workers have been redeployed, 200 staff have already taken redundancy. A further 300 workers will be compulsory made redundant. At the same time, Asda reduced the size of its head office located in Leeds (see related factsheet). Along with other major UK retailers, Asda has faced competition from the foreign owned retail discounters Aldi and Lidl since they both heavily expanded into the UK retail market.
Eurofound (2016), Asda, Internal restructuring in United Kingdom, factsheet number 86823, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86823.