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.
North East; Northumberland and Tyne and Wear; Tyneside
Location of affected unit(s)
Gateshead
Sector
Manufacturing Manufacture, Printing And Reproduction Of Recorded Media Printing And Reproduction Of Recorded Media 18.12 - Other printing
60 jobs Number of planned job losses
Announcement Date
29 April 2015
Employment effect (start)
Foreseen end date
Description
Gateshead based specialist printers De La Rue have announced plans to cut 60 jobs. The company which prints banknotes and produces passports has confirmed that consultation is underway with unions and the employee council. The company currently employs 600 staff, so the cuts represent a ten per cent reduction in staff numbers. As yet no reasons have been given for the proposed cuts, other than the company saying that the proposals follow a review of manufacturing capacity. De La Rue did issue a profit warning earlier in 2015, with the operating profit for 2014/2015 expected to be 20 million GBP down on the previous year. The company has stated that the aim of the consultation is to minimise the number of compulsory redundancies. When the company undertook a restructuring at its site in Overton Hampshire, earlier in 2015, voluntary terms were offered to 40 staff.
Sources
29 April 2015: The journal
Citation
Eurofound (2015), De La Rue, Internal restructuring in United Kingdom, factsheet number 79428, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/79428.
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