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.
Saga, the UK-based company that specialises in selling insurance, travel, personal finance and healthcare products and services to people aged 50 and older has made approximately 100 of its employees redundant. A spokesperson has confirmed the news of the redundancies which appeared in the media and added that “this process is being managed sensitively with all of Saga’s impacted employees. We are consulting with all those affected.” The company claims that the reduction of its staff will make the business more efficient and sustainable in the long term. The news of the job losses at Saga come soon after the travel company Thomas Cook had announced large-scale redundancies.
Eurofound (2017), Saga Plc, Internal restructuring in United Kingdom, factsheet number 92727, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/92727.