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.
Cigarette manufacturing company British American Tobacco announced the dismissal of 2,300 employees worldwide, a day after the US president said he was considering a ban on flavoured e-cigarettes. The job cuts target management and R&D staff as in Germany where 185 employees will be dismissed. The decision to reduce the workforce aims at compensating the decline in sales and at investing more in the manufacturing of e-cigarettes. British American Tobacco explained it could save money to invest in alternative products such as vaping and heated tobacco by reducing management layers around the world.
Eurofound (2019), British American Tobacco, Internal restructuring in World, factsheet number 98620, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98620.