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.
UK airports operator BAA has announced it is to cut 700 jobs as part of a cost-cutting drive. The group said the move would result in savings of about £45 million a year by 2008.
The news came as BAA posted a 9.6% rise in underlying operating profits to £412 million for the six months to 30 September 2005, from £376 million in 2004. The shake-up would focus on the back office and management areas.
'We want to streamline the management and admin staff of the business and get our managers closer to the business to deliver that better leadership and get the right people in the right jobs,' chief executive Mike Clasper told BBC Radio 4.
Eurofound (2005), BAA, Internal restructuring in United Kingdom, factsheet number 62474, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62474.