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.
Turkey slaughtering and processing firm Cranberry Foods are to cut 400 jobs in Abergavenny whilst creating 140 in Derbyshire. The company, the UK's second largest turkey producer, said it took the decision following a business review. 'The net job loss is an unfortunate consequence of the global food industry which now exists'. Workers at the Abergavenny plant were warned in January of the threat to their jobs when the 90-day consultation period began. Joint managing director, Andrew Lewins, said during the business review that the company had looked 'at all facets that might have impacted the situation and the review has now concluded this is the most appropriate way forward'. Staff at the Wales plant would be offered the chance to fill some of the 149 jobs at the company's plant in Holly Bank, Derbyshire. Cranberry Foods has blamed the job losses on lower demand for UK turkey meat in the face of cheaper foreign imports. Mr Lewis said it would 'undoubtedly be a very sad and worrying time for those colleagues who have lost their jobs'. But he said the company was 'well positioned to be competitive and successful in today's market'. Cranberry's Abergavenny plant will retain 120 staff and will operate as a packing facility producing packs of meat for high street retailers. Trade union Amicus' regional officer, Martin Mansfield, condemned the job losses. He said: 'Amicus is extremely disappointed that Cranberry foods is to go ahead with these redundancies.' 'These are loyal and committed workers who have helped the company through difficult times, to now face an uncertain future.' 'Amicus has made every effort during the consultation process to establish whether any alternative to the job losses could be found.' 'Regretfully we now have to accept that we have exhausted consideration of any rescue package or alternative proposal and that no further avenues remain open.'
Eurofound (2007), Cranberry Foods, Internal restructuring in United Kingdom, factsheet number 65229, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65229.
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