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.
Defence giant BAE Systems is cutting 500 jobs as it closes its Telford, Leeds and Guildford factories, and reduces staff in three other locations. The factories will close by the end of the year, and job losses will also come from the Newcastle, Barrow and Leicester sites. The cuts are in its combat vehicles and weapons unit, and come after the company had already announced the loss of 200 jobs last November. The cuts are related to a decline in demand from the British Army due both to the current economic climate's need for budget cuts and the reduction of operations in Iraq and Afghanistan. Approximately 100 posts from the closing factories will hopefully be transferred to the company's Newcastle and Leicester sites. Bernie Hamilton, Unite's national officer, expressed the disappointment of union officials "The government must now make the right and speedy decision on the new scout vehicles, which must be designed, built and maintained in the UK by UK workers, to help underpin what remains of the UK capability and business"
Eurofound (2009), BAE Systems, Closure in United Kingdom, factsheet number 68851, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/68851.