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 oil and gas engineering company OneSubsea has announced that it has entered into a 45 day consultation over 600 proposed redundancies. The company currently employs 929 staff at its site in Leeds, West Yorkshire. It is being reported that the company is considering stopping manufacturing at the Leeds site in 2017. According to reports, the company has decided to review its staffing following the reduction in demand affecting the entire oil and gas industry. The final numbers of employees affected and the timing of job losses will be confirmed following the completion of the consultation period.
Eurofound (2016), OneSubsea, Internal restructuring in United Kingdom, factsheet number 88894, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88894.