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 mobile phone company O2, which emerged from British Telecom in 2001, said it is to recruit 2,000 staff and open a fourth call centre as part of plans to boost customer service. O2 already has three call centres in the North of England and said it would open a fourth, employing 800 people, in the 2006/07 financial year. The rest of the additional staff will be recruited in the coming year. The plans emerged as O2 said it had performed well in the 2004/05 financial year, but revenue growth was slowing in a more competitive market. In the UK, net service revenues were expected to grow by between 12% and 15% in the year to March 2005, before slowing to mid-single digits in 2006.
Even though the mobile phone operator 02 is undertaking a recruitment drive over the next two years this does not stop job losses in other parts of the business. O2 revealed that it planned to reduce its number of management and administration posts by up to 500 people.
Eurofound (2005), O2, Business expansion in United Kingdom, factsheet number 61292, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61292.
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