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.
Spanish owned Santander Bank has announced plans to cut 200 jobs from its corporate and commercial banking division. According to reports, consultation over the proposed cuts has already taken place with the trade unions. Reports do not say when the job cuts are expected to take place, though since consultation has concluded, it is expected that they will be imminent.
The cuts follow a difficult time for the bank; earlier in 2019 it announced closures of a large number of its high street branches in the UK, and also announced major job cuts at the end of 2018 in its home country.
Eurofound (2019), Santander UK, Internal restructuring in United Kingdom, factsheet number 97945, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97945.