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.
Car manufacturer Ford has revised its restructuring plans and it has now confirmed that the restructuring will now mean the closure of its operations in Bridgend, South Wales. Earlier in 2019, the company had announced plans to cut jobs across the UK, including 1,000 from the Bridgend operations.
It has now been confirmed that the Bridgend site will close by 25 September 2020 with the total number of job losses expected to be 1,700. The job losses are set to be phased over the coming months.
Ford has said that the decision has nothing to do with the UK leaving the EU and cited instead costs and changes to customer demand as factors influencing their decision. The company has also confirmed that it will repay incentives offered by the Welsh Government. Both local and national politicians in Wales have expressed anger and disappointment at the decision to close the site, arguing that the knock-on effects will be felt widely across the area.
Eurofound (2019), Ford, Closure in United Kingdom, factsheet number 97947, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/97947.
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