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.
Irish bank AIB has announced that it will cease operations in Jersey and the Isle of Man resulting in the loss of 170 jobs. The move is part of a wider restructuring plan aimed at making the company more 'domestically-focused'. The company announced it would enter a 30-day consultation period in order to agree on a package for the affected staff.
The bank has been operating in Jersey and the Isle of Man for over 30 years.
Eurofound (2012), AIB, Closure in United Kingdom, factsheet number 73609, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/73609.