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 company Qinetiq is to cut a further 325 jobs across Boscombe Down, near Salisbury, Farnborough in Hampshire, and Malvern, Worcestershire. The announcement closely follows last month's proposals of 391 job losses; the "challenging business environment is being blamed. The firm is now in a 90 day consultation period with unions. Prospect union represents approximately one third on Qinetiq staff, and its national secretary David Luxton described the news as "both alarming and distressing for over 1,500 highly skilled scientists, engineers and project managers working at the cutting edge of defence technology and future capabilities for the armed forces. The scale of the redundancies, which are attributable to Ministry of Defence spending cuts, sharply exposes the vulnerability of private sector jobs to public expenditure cuts." No timeline was given for when the cuts would be made by.
Eurofound (2010), Qinetiq, Internal restructuring in United Kingdom, factsheet number 70809, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/70809.