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.
Bournemouth-based telecommunications company 4Com is reported to be cutting jobs across its business. The firm, which employs 300 people, has started a consultation with affected staff. A spokesperson for the business suggested that the numbers facing redundancy are 'small', although reports suggest that the number is between 45 and 50. The business had been voted as one of the best 100 companies to work for in the Sunday Times in the category of medium sized businesses.
The redundancies comes after the company declared a loss of close to one million GBP (€1,1 million as per 22 August 2017) for the previous year. This is despite paying dividends of around three million GBP (€3,3 million) and the directors' remuneration packages coming to just over 1.25 million GBP (€1.4 million).
Eurofound (2017), 4Com, Internal restructuring in United Kingdom, factsheet number 91741, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91741.