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.
On 13 January, British aerospace electronics group Cobham announced its intention to close nine sites in the USA, UK and France and to cut 150 positions throughout 2011. Although a number of employees are expected to relocate, up to 150 job losses are estimated in 2011, with 30 new positions being created.
The restructuring is the result of the "Excellence in Delivery" effieciency programme launch in 2010. This program started, the total headcount has reduced by approximately 700 positions to some 11,000, with two sites closed last year.
In 2011, the group will close three sites in Hampshire and create a new one at the Solent Business Park at Whiteley (Hampshire, UK) specialising in surveillance equipment and technology. Another three sites in the USA (6,100 employees) and France (900 employees) will be closed. The operations of the French sites that are to be closed will be transfered to a new location in Les Ulis.
Eurofound (2011), Cobham, Internal restructuring in World, factsheet number 71423, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/71423.
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