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.
Polestar Greaves, a firm that operates in the printing sector, has announced that it has cut 190 jobs at its site in Scarborough. The job losses were announced on 8th April 2008, and were due to be implemented by 9th April 2008. However, due to a series of orders that the site had received, the job losses were implemented on April 30th 2008. 380 were employed at the Scarborough site. As of April 2008, it is unclear what will happen to the remaining 190 employees. Management at the firm attribute the job losses to 'over-capacity in European markets'.
Update 7th August 2008
Polestar Greaves has announced that it is to close its factory in Scarborough with the loss of the 190 jobs remaining following the earlier jobs reduction in April 08. The company announced that the site was no longer needed as it has invested in new technology and it is expected to close in January 2009. Consultation with local union representatives has recently begun.
Eurofound (2008), Polestar Greaves, Closure in United Kingdom, factsheet number 66584, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66584.