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.
Alba, the consumer electrical business whose brands include Bush and Grundig televisions and employ 500 in the UK, is cutting 80 jobs in the UK this year. The news came as the company reported a slump in full-year profits from £21.6m to £2.4m. Chief executive Daniel Harris admitted the company had been too slow to adapt to the switch from analogue to digital electronic products.
'Consumer electronics is now very much a digital business,' he said, 'and we have to change the way we operate with suppliers and the whole product life cycle.'
Eurofound (2006), Alba, Internal restructuring in United Kingdom, factsheet number 63678, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/63678.