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.
Cromwell Tools, a UK-based distributor of industrial tools, has announced that 179 employees have been made redundant in Wigston, Leicestershire, as part of an internal cost-saving restructuring plan. A spokesperson for the company said that earlier in 2019 they had planned up to 250 redundancies. At the end of the compulsory consultation period, however, fewer than 10 per cent of the 1,800 employees were made redundant.
Cromwell Tools was founded in 1968 and was owned by its founder until 2015 when it was acquired by WW Grainger, the industrial supply company based in the US.
Eurofound (2019), Cromwell Tools, Internal restructuring in United Kingdom, factsheet number 99547, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/99547.
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