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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.30 - Manufacture of air and spacecraft and related machinery
221 jobs Number of planned job losses
Announcement Date
7 October 2016
Employment effect (start)
1 December 2016
Foreseen end date
Description
GKN Aerospace is reported to be closing its operations in Yeovil, Somerset, with the loss of 221 jobs. The company which manufactures airframes for helicopters is understood to have lost a significant contract to supply the Royal Navy. It was reported in early October 2016 that consultation was underway between management and trade unions, though at this time, there was some hope that the site could continue to operate. Subsequent reports have confirmed that redundancy notices have been issued to 221 staff and that the first redundancies may take effect at the beginning of December 2016. As of November 2016, it is not known when the redundancies will be implemented by.
Sources
7 October 2016: BBC Website
20 October 2016: Insider Media
Citation
Eurofound (2016), GKN Aerospace, Closure in United Kingdom, factsheet number 89031, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89031.
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