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.
Royal & Sun Alliance, a firm that provides insurance products, is to cut 500 jobs in the UK as part of a plan to reduce costs by 70 million GBP. The group's chief executive Andy Haste said the firm would work with its unions to try to minimise the necessary number of redundancies. The firm’s announcement came as the insurer reported better than expected profits for the first half of 2007. Group operating profits were 403 million GBP, against expectations of about 350 million GBP. Pre-tax profits for the period rose 2.3 per cent to 338 million GBP.
The firm added that it had achieved an annual cost savings target of 130 million GBP ahead of schedule, and it now intended to make a further 70 million GBP in cost cuts by the middle of 2008.
Eurofound (2007), Royal & Sun Alliance, Internal restructuring in United Kingdom, factsheet number 65686, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65686.
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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