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.
Badcock Marine, a company operating in the ship manufacturing and vessel renovation industry, is to cut 300 jobs at the Devonport Dockyard in Plymouth. The cuts are part of wider cost-effective measures and they amount to 6% of the workforce at the affected unit. Apart from main staff positions, job losses will also affect temporary workers in support services. The company will undertake a statutory 90-day consultation process while the aim is to implement the job losses by the end of June 2009. The management hopes that the majority of the cuts will be implemented through voluntary redundancy measures. According to the Prospect union, the reductions are ‘disappointing’ given that less than six months ago the Armed Forces minister had promised the creation of new jobs. Although the Councillor Vivien Pengelly, Plymouth City Council leader, expressed understanding for Badcock's decision to cut costs, she urged for increased governmental guarantees in orded to stabilise future levels of employment. Badcock Marine is a part of the Badcock International Group PLC with operations in the UK, Canada, Australia and S. Africa.
Eurofound (2008), Devonport Royal Dockyard, Internal restructuring in United Kingdom, factsheet number 67345, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/67345.
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