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.
Imperial Tobacco, a multi-national group that produces tobacco, has announced that it is to cut 285 jobs in the UK. 210 jobs will be lost at a site that the firm operates in Nottingham, and 75 jobs will be lost in Bristol with the closure of the site. The firm has also stated that it will create 25 new jobs in UK at an unknown location with the re-organization of central support functions. The restructuring announcement follows the group acquiring the Franco-Spanish firm Altadis in January 2008 for 9.9 billion GBP. The restructuring programme will also involve 2,440 international job losses.
A spokesman for the firm stated:
‘We are regrettably closing the cigar factory in Bristol - it's a very regrettable step for us to take, but it is an industry which is under considerable pressure.’
A spokesman from the union Unite criticized the job losses, and stated:
’Its early days but we will be fighting for every job and there will be absolutely no acceptance of any compulsory redundancies.’
The global job losses will be implemented by June 2011, however there is no specific information on when the job losses in the UK will be implemented. Imperial Tobacco employs approximately 1,700 in the UK and 14,000 internationally.
Eurofound (2008), Imperial Tobacco, Merger/Acquisition in United Kingdom, factsheet number 66763, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66763.
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