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.
Financial Services firm Citigroup has announced that 185 jobs will be created at its technology centre of excellence in Belfast. It said the investment would 'contribute a further 21 million GBP to the local economy' and bring employment at Citigroup's Belfast operation to 560.
Invest Northern Ireland has offered 3.6 million GBP in financial assistance for the investment. Secretary of State Peter Hain said Citigroup's commitment to Northern Ireland was clearly evident through several major investments it had made.
'This new investment will strengthen Citigroup's presence in Northern Ireland, provide high quality, sustainable career opportunities and further enhance and build Northern Ireland's reputation as a world class centre for financial services companies', he said.
Robert Druskin of Citigroup Corporate and Investment Banking said its Belfast centre 'has delivered significant benefits to our global operations'.
'With the rapid development of our Belfast operation, we are now in a position to strengthen our presence with a second major investment,' he said.
'We are confident that through our renewed commitment to this region we will continue to add value both to Citigroup and the NI economy.'
Eurofound (2006), Citigroup, Business expansion in United Kingdom, factsheet number 64323, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64323.
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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