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.
Liberty Steel, a global steel manufacturer and distributor, headquartered in the UK, has announced plans to cut 354 jobs. The redundancies will affect 250 workers in Stocksbridge, 17 in Rotherham and 15 at Brinsworth in South Yorkshire, and 72 in Newport. The consultations with employees and their trade unions have already started. A representative of the Liberty House Group stated that the company is challenged by the global conditions in the steel industry and the fall in demand for steel. He added that the company offered voluntary redundancy to the workers affected by the restructuring.
A representative of Community, the steelworkers’ union said that the news was disturbing and called on the government to meet with employers and trade unions to discuss how the industry can be supported.
Eurofound (2020), Liberty Steel , Internal restructuring in United Kingdom, factsheet number 99715, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99715.