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.
Pennine Acute Trust, the largest National Health Service (NHS) trust in the north-west of England, has announced plans to axe 800 staff yesterday in an attempt to eliminate a £21m deficit. The trust said it would remove 800 posts at its hospitals in Bury, north Manchester, Oldham and Rochdale - one of the largest job losses to emerge since the NHS went into a period of retrenchment two months ago. The public sector union Unison said it was a disgrace that the cuts had been announced without any consultation with staff representatives. Nurses first heard that job losses were likely from the local press.
Bob Chadwick, acting chief executive of the trust, said the trust would have to act quickly to return to financial balance. It was facing a £21.3m loss this year and its underlying annual deficit was £28.3m. Mr Chadwick said,
'Our current estimates are that up to 800 posts may have to be lost... some could be removed by a freeze on unnecessary recruitment and reviewing the use of temporary staff, but compulsory redundancies can not be ruled out completely'
Eurofound (2006), Pennine Acute NHS Trust, Internal restructuring in United Kingdom, factsheet number 63481, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/63481.
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