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.
IBM, the US-based global technology and consultancy company, has announced plans to cut 346 jobs in the UK arm of its Global Technology Services (GTS) division in 2021. The redundancy consultations have already started, with IBM offering voluntary redundancies, even if 'involuntary redundancies may be required', the company declared.
A statement by the company said the aim of the restructuring was to ‘improve IBM’s competitiveness’ in the face of changing client requirements, and added that this would be in part achieved through automation.
IBM is one of the largest employers in the world, with over 350,000 workers, the majority of whom work outside the US, including 11,000 employees in the UK. During 2020, IBM already launched a redundancy programme in the UK, codenamed 'Project Palm', which affected 236 employees at GTS.
Eurofound (2020), IBM (UK), Internal restructuring in United Kingdom, factsheet number 102809, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102809.
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