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.
Professional Services Scientific, Architectural And Engineering Technical Activities Scientific Research And Development 72.1 - Research and experimental development on natural sciences and engineering
200 jobs Number of planned job losses
Announcement Date
4 April 2016
Employment effect (start)
Foreseen end date
Description
Midlands based technology company Intelligent Energy has announced plans to cut 200 jobs from its workforce. The decision to cut jobs follows the announcement in March 2016 that expected sources of funding would no longer be available; news which in turn precipitated a dramatic fall in the firm's share price. The company has confirmed that it expects to lose staff from a number of locations across its operations and the losses will lead to some site closures. Formal consultation for the affected workers is reported to have been started. It is not known when the job losses will take effect.
Sources
6 April 2016: Insider Media
Citation
Eurofound (2016), Intelligent Energy, Internal restructuring in United Kingdom, factsheet number 87327, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87327.
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