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.
Stadco a car panel firm is cutting 280 posts because of the crisis at MG Rover. The company has issued 230 redundancy notices at Holbrooks in Coventry and 50 at Harlescott in Shrewsbury.
Stadco says it regrets the action, but the job losses are a 'direct consequence' of what it calls the 'probable demise' of MG Rover.
The firm is a major supplier in the automotive industry, providing bodies for the MG TF model and body panels for the Rover 25, 45 and 75.
In May 2005, the MG Rover crisis claimed another 200 jobs when Stadco announced that it is to close its Coventry plant in 2006. Stadco said it now felt there was no alternative to closure.
Eurofound (2005), Stadco, Closure in United Kingdom, factsheet number 61393, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/61393.