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.
It has been announced that the Greencore factory in Somerset is set to close, which will result in the loss of 400 jobs. The company produces chilled desserts at the site, which has been operational for 126 years. According to the company, the site would require significant upgrading in order for production to continue; a cost which would not be recouped through sales. The proposals state that the majority of the redundancies would take place from April 2018, but that some jobs will be cut before then. The proposals are subject to a 45 day statutory consultation period. A spokesperson for the Usdaw trade union has commented that the union is seeking to achieve enhanced redundancy packages for its members.
UPDATE 27/07/2017: The final closure date for the Greencore factory has been confirmed as October 2018, as the consultation between management and worker representatives nears its conclusion. The closure will take place in two main stages in April 2018 and October 2018. The remainder of the consultation process will be devoted to finalising the severance package for the affected workforce.
Eurofound (2017), Greencore, Closure in United Kingdom, factsheet number 91173, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/91173.