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 Celtic Manor Resort, the company which owns the Celtic Collection, the holiday resort and conference centre in Newport, Wales, has announced that it will cut 450 jobs, just under half of its permanent workforce, due to the COVID-19 crisis.
A statement by the company said the current workforce was not sustainable, given the significant reduction in the number of visitors occurred in 2020, and that the company had to “reshape and resize.”
A representative of the trade union GMB said the decision to cut jobs was "short sighted and cruel". He highlighted that the work of the people going to be dismissed, in precedent years significantly contributed to the success of the business, and called on the company to repay this effort making a further endeavour to save jobs.
The Celtic Collection holiday resort includes four hotels, a country inn, luxury lodges, two spas, six restaurants and three golf courses. The resort has staged large scale international events, such as golf's Ryder Cup and a NATO Conference. The conference centre was completed last year, with financial support from the Welsh Government.
Eurofound (2020), Celtic Manor Resort, Internal restructuring in United Kingdom, factsheet number 101455, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/101455.
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