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.
UK music group EMI has said it plans to axe 1,800 jobs - about one fifth of its workforce - in an attempt to cut costs. EMI recorded music is to lay off a fifth of its workforce, reduce its artist roster by a fifth, and outsource all its UK and USA manufacture of CDs and DVDs. The moves are part of a bid by the company to save £50m a year.
The job cuts form part of a wider restructuring exercise aimed at shoring up the heavily-indebted company's battered finances.
Eurofound (2004), EMI, Internal restructuring in United Kingdom, factsheet number 59979, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/59979.