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.
The University of Kent, a British tertiary education institution, has announced an internal restructuring plan, including about 150 job cuts by the end of 2020.
The vice-chancellor has said that the university’s income currently does not cover its costs and hard choices will have to be made. The university has appointed a ‘financial recovery board’ in an effort to overcome financial difficulties.
Many UK universities are facing financial losses due to the coronavirus outbreak: campuses have been closed and there are concerns that there will be a reduction in the numbers of fee-paying international students applying to study and live in the UK. Therefore, the University of Kent is going to consider also further reductions over the next three years if, in the worst-case scenario, it could not significantly increase its income.
Furthermore, the University declared that it will be working with staff and trade unions to explore all the solutions to prioritise voluntary redundancy arrangements that limit the impact on workforce.
The University of Kent is one of the UK’s leading academic institutions, producing world-class research in many fields of study.
Eurofound (2020), University of Kent, Internal restructuring in United Kingdom, factsheet number 100146, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/100146.
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