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.
Steel manufacturer Tata Steel has announced the intention to to lay off 110 staff at its Corby site in Northamptonshire. The move is part of a cost-cutting plan to cut 200 jobs across Europe. The restructuring is reported to be due to the company's drive to cut costs and improve efficiency as the economic climate has reduced demand for steel tubes.
In 2011, Tata Steel had already announced redundancies of up to 1,500 at its long products division (see here) and 115 at its Llanwern plant in Wales (see here). The timeline for the newly announced lay-offs is not yet known.
Eurofound (2012), Tata Steel, Internal restructuring in United Kingdom, factsheet number 73029, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/73029.
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