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.
Royal Bank of Scotland (RBS) announced plans to close its contact centre in Southampton by the end of 2019, resulting in the loss of 243 jobs. The closure of the Southampton site follows the job cuts in the bank's operations in Greenock. While the decision to cut jobs at Greenock was attributed to changes in customer preferences, the decision to close the Southampton call centre appears to be related to the lease on the premises, which is due to expire in May 2020. The national officer for the Unite union has called on the bank to reconsider its decision. According to the report, the bank intends to create new roles in Manchester and Southend, but considering the distance of these sites from Southampton, the solution may be unrealistic for many employees even if redeployment were to be offered.
Eurofound (2019), Royal Bank of Scotland, Closure in United Kingdom, factsheet number 98247, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98247.