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.
Rolls-Royce, the UK-based global engineering company, has announced 170 job cuts, 140 of them are in the Lancashire site of Barnoldswick and the remaining 30 jobs are in the Scottish plant of Inchinnan.
COVID-19 global pandemic has severely impacted the whole aviation industry, by shrinking the customer airlines' demand. These latest job losses are in addition to the 3,000 redundancies announced in June 2020.
Trade union Unite criticised the decision arguing that the workforce skills at these two sites were unique and called on the Government to save the aerospace industry in the UK. However, Rolls-Royce said that was forced to cut jobs in order to protect its remaining workforce. Furthermore, the company forecasts that the market crisis will last for several years. Some of the fan blade manufacturing work will be relocated to Singapore.
The UK restructuring plan is part of a global redundancy scheme announced in May 2020. Job cuts involve 8,000 people in the UK, Germany, USA, India, Japan and Singapore. In particular, 800 layoffs were already announced in June 2020 in Germany. At the start of the COVID-19 pandemic, Rolls-Royce had a global workforce of 52,000, operating in more than 50 countries.
Eurofound (2020), Rolls-Royce, Internal restructuring in United Kingdom, factsheet number 102908, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102908.
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