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.
Utilities Electricity, Gas, Steam And Air Conditioning Supply Electricity, Gas, Steam And Air Conditioning Supply 35 - Electricity, gas, steam and air conditioning supply
450 jobs Number of planned job losses
Announcement Date
6 October 2005
Employment effect (start)
Foreseen end date
31 March 2007
Description
ScottishPower is to cut 450 jobs across Britain until 2007. The Glasgow-based energy firm said 270 jobs would be lost in Scotland, saving the company £60 million a year. The decision followed the sale of its US division, PacifiCorp, in May 2005, making it a 'smaller company generating far less revenue', and it said it would try to avoid compulsory redundancies among its 8,000 staff. In the first round of cuts, 120 positions will go at the Cathcart business park in Glasgow and 90 at offices in Bellshill. The announcement comes a month after four executives were made redundant.
Sources
7 October 2005: The Guardian
Citation
Eurofound (2005), Scottish Power, Internal restructuring in United Kingdom, factsheet number 62384, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/62384.
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