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.
Marconi the telecoms equipment manufacturer was left out of the bidding to help BT for a crucial £10 billion five-year refit of its entire UK. BT instead picked eight rivals including Japanese IT firm Fujitsu, Chinese networking company Huawei, France's Alcatel, German electronics group Siemens, Sweden's Ericsson and US groups Ciena, Cisco and Lucent to build its so-called ‘21st century network'. The loss of business from BT, which is Marconi's largest customer and accounts for about 27% of revenues, immediately puts 2,000 research and development jobs at risk at the company's plants in Coventry, Liverpool and Beeston, near Nottingham. Marconi, once a powerhouse of British engineering, employs 4,300 people across the country and on Thursday 28 April 2005, union leaders said they feared up to two-thirds of the workforce, almost 3,000 employees, could be dismissed.
News of job cuts of 800 of its UK workforce came soon after the initial announcement. The company said 450 jobs would go in Coventry, more than a quarter of its 1,600 workforce at the site. Its Edge Lane plant in Liverpool will be closed, with the immediate loss of 300 jobs. About 300 positions will be moved to other sites in the North West.
Eurofound (2005), Marconi, Internal restructuring in United Kingdom, factsheet number 61496, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61496.
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