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.
Travelscope, a firm that operates in the travel agency sector, has announced that it is to cut 182 jobs at its site in Gloucester. The announcement follows the firm entering administration earlier in December 2007. 250 are employed at the Gloucester site, and the 182 job losses were implemented with immediate effect after the announcement was made to employees on 28th December 2007. As of December 2007, it is unclear what will happen to the remaining 68 employees at the site.
The administrators of the firm have stated that they have entered discussions with several companies who have expressed an interest in buying Travelscope. The case has also attracted attention in the UK media due to the adverse effect that it has had on the travel plans of thousands of Travelscope customers.
Eurofound (2007), Travelscope, Internal restructuring in United Kingdom, factsheet number 66153, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66153.
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