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.
Last January, JCB, a manufacturer of construction machinery, announced the loss of 684 jobs at its plants in Staffordshire, Derbyshire and Wrexham. On 10 April 2009, the company announced that, following a 90 day consultation with employee representatives, 229 of the 394 announced job losses at the firm's site in Staffordshire will not be implemented.
JCB has already reduced its UK workforce to 4,800 as demand from the construction sector has declined. The company has attributed the latest cuts to the problems that its customers are having in obtaining credit to purchase its products. As of April 2009, there is no information about when these jobs will be lost.
Eurofound (2009), JCB, Internal restructuring in United Kingdom, factsheet number 67818, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67818.