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.
Lloyds bank has announced plans to close its Sussex House contact centre in May 2010 resulting in the loss of 373 jobs. The change will affect 535 staff, 162 of whom will be redeployed in other sites across the UK. As with all the redundancies announced since the merger with HBOS, the move was justified by the need to integrate operations. The company committed to achieve job losses through voluntary severance and making less use of contractors and agency staff, with compulsory redundancies a "last resort". Unions expressed concerns that redemployment was not a viable option for all the affected staff.
Eurofound (2009), Lloyds, Closure in United Kingdom, factsheet number 69967, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69967.