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.
The residential division of Kier Group, a company that operates in the property sector, has announced that it is to cut 350 of the 600 jobs in its residential division. Kier said it was closing offices in Glasgow, St Neots in Cambridgeshire, and Borehamwood in Hertfordshire, following an announcement in May that it was shutting two offices in Spalding in Lincolnshire. One office will remain in Bedfordshire. As of 20 July 2008, no further information is available on how many job losses will be at each site, or when the jobs will be cut.
The company has attributed the job losses to the slowdown in the housing market. The company stated that ‘We are very cautious on the outlook for 2009 and consequently we are taking appropriate action to reduce our cost base.’
The residential division is part of the Kier Group, which employs 8,700 people worldwide. The company has five divisions: Construction, Support Services, Residential, Property and Project Investments.
Eurofound (2008), Kier Group, Closure in United Kingdom, factsheet number 66868, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66868.
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