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.
Budelpack COSi, a firm that produces cosmetics, has announced that it is to cut 231 jobs at its site in Maesteg in South Wales. Approximately 550 are employed at the site. The firm attributes the decision to cut the jobs to a fall in sales caused by an economic downturn. A spokesperson for the firm stated that sales had fallen by a quarter in recent months. The spokesperson also stated,
‘It is very unfortunate that we have to restructure but in this current economic climate these changes are unavoidable’
The job losses are composed of 150 agency staff who have lost their jobs in the last two months, and 81 full time staff who will lose their jobs by the end of November 2008.
Eurofound (2008), Budelpack COSi, Internal restructuring in United Kingdom, factsheet number 67316, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67316.
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