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.
The insurer Norwich Union, part of Aviva, revealed the full extent of its plans for outsourcing for the first time and was immediately warned of the possibility of strike action by union officials at Amicus. The company has already moved 3,700 jobs to the subcontinent but acknowledged that another 3,300 would be moved over the next three years. Aviva admitted that the decision would mean 150 compulsory redundancies in 2005 when it expects to shift a total of 950 jobs offshore. The company said previous experience had shown that most of the job reductions could be achieved through staff turnover, redeployment and retraining. Amicus said the decision pointed to a ‘bleak future for the UK financial services industry'. A spokesman said: ‘The company is playing the numbers game. We are opposed to compulsory redundancies.' The compulsory job losses will fall in Norwich, where 70 cuts are earmarked, and York, where 60 jobs will go. Another 20 will be spread across the Aviva operations, which has a total of 30,000 staff in the UK.
Eurofound (2004), Norwich Union, Offshoring/Delocalisation in United Kingdom, factsheet number 60532, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60532.
Eurofound’s ERM restructuring legislation database offers an overview of key restructuring-related regulations in the EU Member States and Norway. Its content is continuously updated to reflect any changes made by national legislators in response to, for instance, policy shifts, legal...
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This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
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