Collins Stewart Tullett

Type
Merger/Acquisition
Country
United Kingdom
Region
London; Inner London - East;
Location of affected unit(s)
Sector
Financial / Insurance/ Estate
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
64 - Financial service activities, except insurance and pension funding
150 - 600 jobs
Number of planned job losses
Job loss
Announcement Date
4 November 2004
Employment effect (start)
5 November 2004
Foreseen end date

Description

More than 150 employees of Collins Stewart Tullett have lost their jobs on 4 November 2004 as a result of the broking firm's takeover of rival Prebon. The redundancies are the first stage of the cuts expected to the 4,000-strong workforce as Collins Stewart Tullett merges its money broking arm with Prebon's. As many as 600 jobs could be lost following the transaction, which was outlined in late September 2004.

Sources

  • 5 November 2004: The Guardian

Citation

Eurofound (2004), Collins Stewart Tullett, Merger/Acquisition in United Kingdom, factsheet number 60730, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60730.