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.
Bank of Ireland is to cut 2,100 jobs in Ireland and the United Kingdom as part of a cost-cutting drive fuelled by increased competition. Ireland's second largest company also said it would listen to offers for its UK retail division Bristol & West. It had received several offers for Bristol & West, which employs 5,000 staff across 97 branches. If BoI does decide to sell the branches, it will raise a question mark over at least another 750 jobs.
The financial union Amicus, which represents 400 BoI workers, condemned the job cuts. Colm Quinlan, an Amicus official, said: "We have assured our members that we will resist in the strongest terms any attempt to sacrifice jobs purely to enhance massive profits; that we will not countenance any proposal that includes compulsory redundancies, and will oppose any proposal to outsource jobs abroad."
Eurofound (2005), Bristol and West, Internal restructuring in United Kingdom, factsheet number 61291, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61291.