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.
Ford has said it is to close a foundry in Leamington Spa, Warwickshire, with the loss of 365 jobs. The facility, which makes parts for the firm's vehicles, will shut in July after the company decided it had become too uncompetitive. Ford said there would be no compulsory lay-offs, but unions said it would support 'any action' its members decided to take in response. Ford has cut back its interests in the UK over a number of years. Jaguar ended production at its Brown's Lane plant in Coventry in 2006, while luxury UK carmaker Aston Martin was recently sold to a consortium headed by former rally driver Dave Richards for 479 million GBP. Warwickshire County Council added that while its was 'certainly a blow' for workers at the plant it would ensure training opportunities and advice were available as quickly as possible for those affected. Union officials condemned the decision, saying the plant was one of Ford's most efficient operations in the UK. Ford has suffered serious financial problems in the US amid falling sales.
Eurofound (2007), Ford, Closure in United Kingdom, factsheet number 65190, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65190.