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 EnQuest has announced that it is to cut jobs at the Sullom Voe oil terminal on Shetland. The company employs around 400 staff at the site and has confirmed that 60 employee positions will close, as well as a further 20 contractor roles. The decision is part of a move to cut costs in preparation for negotiations around a new contract. The Unite union has reacted to the news with a mixture of surprise and disappointment, and has stated that a ballot over industrial actions remains a possibility. The company has stated that it hopes to achieve as many cuts as possible through voluntary redundancy, and that redeployment options will also be considered. The process is expected to be complete by January 2020.
Eurofound (2019), EnQuest, Internal restructuring in United Kingdom, factsheet number 98177, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98177.