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.
Last March, Renishaw, a manufacturer of special purpose machinery (metrology, motion control, machine calibration) announced that it was to cut 470 jobs at its sites in Gloucestershire (300 jobs at Wotton, 95 jobs at Woodchester and 75 at Stonehouse). The job losses were blamed on a downturn in sales. On 6 April 2009, the company announced that 60 of the 470 job losses that were originally announced were to be saved. The decision followed the firm identifying alternative cost-reduction measures. As of 14 April 2009, Reinshaw has announced that 320 jobs will now be lost within the UK. 308 of these will be lost in Gloucestershire with another 12 being lost outside the county. There is no information on when the job cuts will occur. Renishaw employs 2,240 staff worldwide and 1,500 in the UK.
Eurofound (2009), Renishaw, Internal restructuring in United Kingdom, factsheet number 68499, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/68499.
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