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.
BAE Systems, a multi-national group that operates in the engineering and defence sector, has announced that it is to cut approximately 150 jobs at its site in Rochester in Kent. 1,719 are employed at the Rochester site, and the job losses will affect workers in engineering and manufacturing positions. Management at the site attributed the job losses to a reduced need for software skills following the completion of development programmes and also stated that the plant needed to remain competitive. Managers also stated that they would attempt to relocate staff affected by the announcement. Andy Start, the managing director of the Rochester site, stated:
‘We recognize that this is a difficult period for all employees and their families and we will continue to do everything practical to mitigate the number of compulsory job losses’.
BAE Systems operates a series of sites in Europe, the United States, and at other global locations. It employs approximately 97,500 internationally. As of June 2008 there is no information on when the job losses will be implemented by.
Eurofound (2008), BAE Systems, Internal restructuring in United Kingdom, factsheet number 66734, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/66734.
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