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.
British Petroleum (BP), the multi-national oil producer, has announced that it is to cut 350 jobs at its site in Aberdeen. The firm has stated that 250 of those jobs affected will be onshore positions, whilst the remaining 100 jobs will be contractual positions. The job cuts will be implemented by the end of April 2008. The firm has stated that the decision is due to a decline in profit and the need for greater efficiency. Trade Unions have condemned the job losses. Graham Tran of the Unite-Amicus Union said:
'We did expect job losses but clearly nothing on this scale. This is a massive and devastating blow to the employees of BP and a surprise to the industry in general.’
As of October 2007, there is no information on the number employed at the Aberdeen site. BP employs 115,000 internationally.
Eurofound (2007), BP, Internal restructuring in United Kingdom, factsheet number 65971, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/65971.