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.
BAA, a firm that operates airports in the UK, is to cut up to 2,000 jobs. The firm told The Times, a British newspaper, that cuts would be made at most departments and that the firm was conducting a review of costs at each of its seven locations locations in the UK. The firm owns Heathrow, Gatwick, Stansted, Edinburgh, Glasgow, Aberdeen and Southampton airports. It was also reported by The Times that BAA were considering selling one of its sites, and that all areas of operations, with the exception of security, faced redundancies. A BAA spokesman stated:
'This is a simplification exercise aimed at support staff much more than frontline staff. It's not simply about costs. It's about building a much leaner and more efficient business.'
BAA has a 60% market share of all UK passenger flights, including a 90% share in the south of England. The firm, which was last year acquired by the Spanish group Ferrovial, has also been the subject of criticism in recent months. London Major Ken Livingstone, senior business figures and flight operator British Airways have all criticized the manner in which the firm runs its operations. BAA is also currently being investigated by the UK Competition Commission over whether or not the firm engages in a monopoly of its market. As of August 2007, information on when the job losses will be implemented is unavailable.
Eurofound (2007), BAA, Internal restructuring in United Kingdom, factsheet number 65783, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65783.
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