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.
Following the takeover of the bank and mortgage provider Abbey by Santander Central Hispano (BSCH) the new owners of the group have said they expect there to be a 3,000 reduction in the number of the employees. Union officials have voiced ‘increasing concern' about Abbey jobs in Scotland after accusing the bank's new owners of cancelling talks at the last minute. Amicus said key talks with Santander Central Hispano were called off at the ‘eleventh hour'. In particular, the union said it wanted assurances about jobs at Scottish Mutual and Scottish Provident. The overall job losses are thought to affect all areas of the banks employment but no precise plans have yet been announced.
Eurofound (2004), Abbey, Merger/Acquisition in United Kingdom, factsheet number 60773, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/60773.