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.
BAE systems, a manufacturer and provider of defence and security systems, has announced plans to cut 1116 jobs across the UK. The announcement comes after a review of the company's current and future business levels, where the company revealed a widened pension deficit of £3.1bn. The cuts will affect 205 posts at the Samlesbury site and 170 at its Warton site, both in Lancashire. A further 111 posts will go in Farnborough and 630 in Cheshire where the company plans to shut its Woodford factory by the end of 2012. The trade union stated that they will work constructively with the company in order to keep redundancies to a minimum and ensure that the majority of them will be implemented through voluntary means.
Eurofound (2009), BAE Systems, Internal restructuring in United Kingdom, factsheet number 69561, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69561.