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.
UK-based offshore drilling contractor, Ensco has announced 117 employees will be made redundant as a result of the decline in world price for oil. The job losses will result from closure of two oil rigs located in the North Sea that have been decommissioned and returned to the company’s Aberdeen based shipyard. The company has commenced formal consultation with staff who were employed on the two oil rigs. The company has said that it will try to minimize compulsory redundancies by implementing a recruitment freeze and by calling for expressions of interest in voluntary redundancy.
Eurofound (2015), Ensco, Closure in United Kingdom, factsheet number 84330, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/84330.