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 engineering group GKN announced plans to cut 600 jobs across its worldwide operations. The cuts come on top of the 2,700 staff made redundant since the start of 2009 and they are blamed on the downtutn in the automotive and aerospace sectors. The job losses will affect company operations in North America, mainland Europe and Asia. The firm also announced plans to raise £423 through a rights issue in order to pay part of its net debt and improve its finance.
Eurofound (2009), GKN, Internal restructuring in World, factsheet number 69117, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69117.