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.
Virgin Media, the British telephone, television and internet services provider has announced that it will permanently close all of its 53 sales outlets across the UK, making 341 employees in sales and management positions redundant.
The company has also announced that it will create 300 new sales posts, the majority of which will involve staff working from home, and another 50 field sales positions.
A representative of the company said these shops and kiosks were not generating sufficient profits, as customers increasingly used the telephone or online channels to make enquiries about products. According to news media sources, the Covid-19 pandemic has hastened Virgin Media’s move away from sales in physical shops. In March, Virgin Media created up to 500 new customer support positions in the UK, ‘on-shoring’ jobs that were outsourced to overseas call centres.
Virgin Media is owned by the multinational telecommunications company Liberty Global and employs 12,000 people in the UK.
Eurofound (2020), Virgin Media, Closure in United Kingdom, factsheet number 101159, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101159.
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