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.
Yorkshire and the Humber; West Yorkshire; Calderdale
Location of affected unit(s)
Castleford
Sector
Manufacturing Manufacturing Of Furniture And Other Manufacturing Manufacture Of Furniture 31.0 - Manufacture of furniture
117 jobs Number of planned job losses
Announcement Date
19 February 2019
Employment effect (start)
19 February 2019
Foreseen end date
Description
Castleford based furniture maker YTM group has entered administration which has resulted in the cessation of trading and the immediate loss of all 117 jobs. The business which operated in Castleford and Pontefract had been established in 1981 and made furniture for the care, education and hotel sectors. According to reports, the closure can be attributed to the high level of competition within the sector and the fact that the company lost a major contract in December 2018. Administrators commented that selling the business as an ongoing concern was not a viable option due to the state of the finances at the time of their appointment.
Eurofound (2019), YTM Group, Bankruptcy in United Kingdom, factsheet number 97354, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/97354.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
