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.
Insurance company Hibernian has announced that it is to outsource 580 back office jobs in Ireland to Bangalore, India, over the next three years. It is understood that the 580 jobs to be targeted by Hibernian will be in lower-skill administrative back office functions. The company will begin transferring jobs early in 2009 to Bangalore in India, where its owner, UK insurer Aviva, already has a presence. Hibernian said its priority was to provide ways to facilitate staff wishing to re-locate or to be re-trained. The company envisages that the majority of the job losses would be voluntary. The Hibernian workforce will be reduced from 2,200 to 1,600 following the cutting of more than a quarter of its workforce. The company says the job losses are related to a concern to reduce costs and boost competitiveness.
More information on the Hibernian case is available on the European Industrial relations Observatory (EIRO).
Eurofound (2008), Hibernian Group, Offshoring/Delocalisation in Ireland, factsheet number 66764, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66764.
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