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.
Oil company Shell is the latest major employer in the industry to announce a major restructure. Worldwide the company is set to cut 10,000 jobs with 1,600 jobs to be lost in the UK. Although the price of oil is a large part of the reason for the job cuts, the company is also looking to restructure and remove duplication following its takeover of the BG group which happened in February 2016. The UK job losses are expected to come from sites formerly trading as BG group.
Sites in Reading, Aberdeen and Manchester are all due to close. The Manchester site will close by the end of 2017, whereas the other two sites will close by the end of 2016. The numbers employed at each of the sites are not being reported. It is understood that there may be some options for staff to be redeployed within the company and that staff will also be offered voluntary redundancy packages.
Eurofound (2016), Shell, Merger/Acquisition in United Kingdom, factsheet number 87490, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/87490.
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