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.
On Tuesday 7 February, Rackspace Hosting Inc. announced a plan to cut its workforce of about 6%. Rackspace is a managed cloud computing company, its headquarter is based in Windcrest, Texas. The company has offices also in other U.S. cities and in London, Sydney, Hong Kong and Munich. Globally Rackspace employs more than 6,200 workers.
CEO Taylor Rhodes, in a blog post published on the company website, announced that the majority of the cuts will affect the U.S. workforce. Rackspace is also proposing smaller reductions other countries. The U.S. layoffs and proposed international reductions are “top down” primarily impacting middle managers.
Eurofound (2017), Rackspace Inc., Internal restructuring in World, factsheet number 90170, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90170.