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.
Supermarket giant Tesco has announced further plans to cut jobs, this time from its Hertfordshire head offices in Welwyn Garden City and Hatfield. In total 1,200 jobs will be cut, which equates to approximately one in four of the workforce. The decision is part of a larger restructure which aims to cut GBP 1.5 billion (€1.7 billion) from the company's operating costs. It follows shortly after the announcement that the company will be closing its call centre in Cardiff with the loss of around 1,100 jobs. The timescale for the job losses has not been reported, though it is understood that affected workers have been informed.
Eurofound (2017), Tesco, Internal restructuring in United Kingdom, factsheet number 91431, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91431.