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.
Bristol City Council announced that it will reduce the size of its workforce by 1,000 jobs. This equates to around 15 per cent of the workforce, as the Council currently employs around 7,000 workers. A formal consultation period has commenced and a voluntary redundancy scheme was put in place in order to try to save £29 million (approximately €34.5 million). Like many local authorities in the United Kingdom, the Council has experienced cuts in funding from central government as part of its programme of austerity. Staff electing to take voluntary redundancy will finish work at the end of September 2016. The Council experienced further backlash in the wake of the announcement to cut 1,000 jobs when it emerged that Nicola Yates, City Director at Bristol City Council, the received an exit payment of £200,000 (approximately €238,000) to leave her job at the end of July 2016.
Eurofound (2016), Bristol City Council, Internal restructuring in United Kingdom, factsheet number 88458, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88458.