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.
BAE Systems, Britain's biggest defence contractor, announced on 27 January 2005 that it was cutting almost 1,400 jobs across 13 sites in the UK. The company, which employs 45,000 in the UK and 90,000 worldwide, did not rule out compulsory redundancies. It said the move was part of an annual review through which individual business units sought to match capacity with demand and order intake. A BAE Systems spokesman said the company ‘very much regretted' the job losses. He said they were due to a variety of factors affecting four different business units: avionics, avionic systems, defence repairs and AMS systems integration, a joint venture with the Italian company Finmeccanica. In 2004, the annual review saw 2,000 jobs go with 4,000 lost the previous year and 2,500 the year before that, the spokesman said.
In 2005, the biggest losses at a single plant are at Chadderton, near Manchester, where BAE Systems customer solutions and support business is closing a repair facility with the loss of 335 jobs but sites from Scotland to the Isle of Wight will be affected. Other plants that will see job losses include Basildon, Luton and Rochester.
Eurofound (2005), BAE Systems, Internal restructuring in United Kingdom, factsheet number 61063, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61063.