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.
Banking group Santander has announced plans to close 140 of its high street branches with the loss of up to 1,270 jobs. The closures which represent around one-fifth of the bank's branch network have been announced in response to changing customer behaviour, with ever growing numbers of customers conducting business online. Santander has said that it will look at options for redeployment and it hopes to find roles for around one-third of the affected employees. Unions have already been consulted over the proposed closures and the list of affected branches has been released. Closures are due to begin on 25 April 2019.
Eurofound (2019), Santander, Closure in United Kingdom, factsheet number 96674, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/96674.