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.
The world’s largest supplier of plumbing and heating goods, Wolseley will reduce its UK workforce by 200 jobs by the end of April 2016. The restructure comes after poor financial results for the UK operations in comparison to its US and Nordic subsidiaries. Most of its UK profits are made from Wolseley’s repair and maintenance division, which has struggled in recent times. During the past 12 months, the company closed 10 UK branches, with the loss of 100 jobs. As part of further cost control measures, a further 15 branches will close during the second quarter of the financial reporting cycle, which will lead to the loss of a further 100 jobs.
Eurofound (2016), Wolsesley, Internal restructuring in United Kingdom, factsheet number 86838, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86838.