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.
Manufacturing Manufacture Of Computer, Electrical Electronic And Optical Products Manufacture Of Electrical Equipment 27.12 - Manufacture of electricity distribution and control apparatus
1,100 jobs Number of planned job losses
Announcement Date
7 December 2017
Employment effect (start)
Foreseen end date
Description
US owned General Electric has announced it plans to cut 1,100 jobs from its UK operations - a reduction of approximately 6% of its UK workforce. The company which specialises in power infrastructure intends to cut 500 jobs from operations in Stafford and a further 600 jobs from sites in Rugby. The announcement is part of a larger plan to restructure the worldwide company, which is expected to result in the loss of 12,000 jobs. A spokesperson for General Electric attributed the job losses to the state of the power market across the globe and a need to ensure that the company remained competitive. The proposals for the job cuts in the UK are subject to the statutory consultation processes which are due to begin imminently.
Sources
7 December 2017: The Guardian
9 December 2017: Staffs Live
7 December 2017: News and Star
Citation
Eurofound (2017), General Electric, Internal restructuring in United Kingdom, factsheet number 92921, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92921.
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