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.
Banking group Lloyds is set to close its internet-banking call centre operation in Bridgend which employs 700 staff next March. The bank announced that it would be offering up to 650 staff re-deployment options in Cardiff, but also at its centres in Swansea and Newport. The group confirmed that 50 staff, mainly in managerial roles, have been told their positions are not being re-deployed. However, it said it hoped to avoid any compulsory redundancies. Trade unions are concerned that redemployment is not really an option for most of the affected staff and that the impact of the restructuring will be greater than stated.
Eurofound (2011), Lloyds, Closure in United Kingdom, factsheet number 72095, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72095.