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.
Drinks manufacturer Bacardi-Martini Ltd has announced plans to cease its Hampshire-based production by the end of the year, cutting jobs. A company spokesman said up to half of the 400 jobs at the bottling plant would be affected. Bacardi-Martini Ltd is planning to relocate its administrative departments to new buildings within the local area. The company plans to outsource its bottling operations. Bosses at the firm have blamed a decline in ready-to-drink or 'alcopop' sales over the last five years. John Beard, CEO of Bacardi-Martini UK, said: 'The change in business conditions, cost competitiveness and economies of scale were significant factors in the decision to prepare to cease bottling operations at the Southampton facility.'
John Speirs, operations director, added: 'Bacardi-Martini is proud to have an outstanding and dedicated work force in Southampton and this action does not reflect on the quality of our operations or the calibre of our people.'
'We thank all our employees for their continued dedication and professionalism - we are now entering a period of consultation.'
Eurofound (2007), Bacardi-Martini Ltd, Outsourcing in United Kingdom, factsheet number 65023, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65023.