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.
Engineering company Siemens has announced plans to cut 126 jobs at its site in Newcastle. One hundred and twelve jobs are reported to be permanent contracts, while the remaining 14 being fixed term. The Shields Road operations work in the company's power generation division and the changes which are being made are linked to the general downturn in the energy sector. A spokesperson for Siemens confirmed that a consultation process on the job losses would soon be underway and that voluntary retirement and redeployment options would be considered. The changes will take place in three phases and are expected to be concluded at the end of September 2019.
Eurofound (2018), Siemens, Internal restructuring in United Kingdom, factsheet number 94080, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94080.