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.
Oil Company ConocoPhillips has announced plans to cut 450 jobs from its UK workforce. The plans are subject to the statutory consultation processes, though it is expected that the job losses will take place between October 2018 and April 2020. Aberdeen is the base for more than half of the company's 1,300 UK workforce, though at this stage the location of the job cuts has yet to be confirmed. Politicians and trade unions expressed some surprise at the announcement, given the recent predictions of a recovery in the oil sector.
Eurofound (2018), ConocoPhillips, Internal restructuring in United Kingdom, factsheet number 94151, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/94151.