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.
Ferry operator Stena Line is cutting sailings between Anglesey and Ireland with the loss of up to 30 jobs in the firm's site in Holyhead. Stena Line will gradually reduce fast ferry services between Holyhead and Dun Laoghaire, near Dublin, from May.
The Swedish-owned firm blamed increased fuel costs, a decline in tourists and competition from budget airlines. Stena, which employs 250 in Holyhead, said jobs would be lost through natural wastage and a vacancy freeze. Union leaders expressed their "deep concern". A Stena spokesman said it did not expect to make any compulsory redundancies.
Bob Crow, general secretary of the Rail Maritime and Transport (RMT) union which represents ferry workers, criticised the cuts and warned that they could lead to industrial action.
He said: "Stena have assured us that they have no intention of attacking the terms and conditions of our members and that they hope to avoid redundancies by redeploying staff.
"Those assurances are, of course, welcome and we hope we can secure our members' jobs through constructive dialogue.
"However, we should also make it clear that any suggestions of compulsory redundancies will be resisted, with industrial action if necessary."
Eurofound (2006), Stena Line, Internal restructuring in United Kingdom, factsheet number 63222, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63222.
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