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.
Network Rail is a not-for-profit company that took over Railtrack in 2002. As part of a slash costs plan, 2,000 jobs will be shed by the end of 2006. On 14 November 2003, 603 managers (15% of the managerial team) have been sacked in a quick-fire 24-hour cull. After complaints from unions, the Railway Inspectorate has expressed concerns about the safety assessment of the redundancies, in particular the departure of 60 staff in safety-critical roles. Network Rail announced in August 2004 a further 890 redundancies as a part of the restructuring. The job losses came about as the company dismantled its regional structure and took the day-to-day upkeep of tracks and stations in-house.
Eurofound (2003), Network Rail, Internal restructuring in United Kingdom, factsheet number 59619, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/59619.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
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