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.
Pharmaceutical company Novartis has announced plans to cut 400 jobs from its UK operations by closing its manufacturing plant in Grimsby. Additionally, it is reducing headcount in its home country of Switzerland by more than 2,000, as part of a global review of its business. As of October 2018, the company employs around 1,500 people in the UK across three sites including Grimsby. The job cuts in Grimsby will be phased over approximately a year and a half, with an end date at the end of 2020. A spokesperson for the company stressed that the decision was not linked to the UK's departure from the EU.
Eurofound (2018), Novartis, Closure in United Kingdom, factsheet number 95640, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95640.