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.
Outsourcing group Mitie has revealed plans to cut 480 jobs. The job cuts form part of 'Project Helix' - the strategy aimed at reducing costs by 40 million GBP by 2020. It is not yet known which of the groups 53,000 jobs will be affected, though it is being reported that cuts are expected at managerial levels in the company's engineering and cleaning divisions. The cuts are expected to be complete by the end of the current financial year. Reports suggest that alongside these current job cuts, Mitie is also considering the sale of its property management business.
Eurofound (2017), Mitie, Internal restructuring in United Kingdom, factsheet number 92240, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92240.