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.
Anglo-Dutch oil company Royal Dutch Shell is to cut another 1000 jobs following the announcement that it's annual profit was down by 69% to $9.8bn for 2009. The job cuts follow 5000 job losses last year, and were announced as part of a plan to save $1bn in 2010; the fall in profits necessitating these actions has been blamed on a diminished demand for oil and a weak global economy. The positions to be cut will mostly be corporate staff and those involved in 'downstream' activities such as refining. Shell plans to sell its refineries in Stanlow in Cheshire, UK, Montreal, Canada as well as Heide and Harburg in Germany. No figures were given for how many people are employed by the company worldwide.
Eurofound (2010), Royal Dutch Shell, Internal restructuring in World, factsheet number 70152, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70152.