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.
Edinburgh based bank RBS has announced the creation of 1,235 new jobs. Recruitment has commenced to fill the positions. As part of European regulatory requirements imposed on RBS followed the UK state bailout of £45.5 billion (approx. €63.1 billion) during the financial crisis, the bank is required to fully divest its challenger bank, Williams & Glyn by the end of 2017. It has been reported that the majority of the jobs in Williams & Glyn will be based in Manchester, Edinburgh and London. A further 240 jobs will be located in the 307 branches of Williams & Glyn. In addition, a further 148 roles in the fields of risk and technology are currently being filled. While the bank has since returned to profitability, it remains 80 per cent publicly owned and around 40,000 workers lost their jobs following nationalisation in 2008 (see earlier factsheet).
Eurofound (2015), RBS, Business expansion in United Kingdom, factsheet number 83725, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/83725.