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 defense, security and aerospace company, is to cut 1,775 jobs across the UK within the next three years. The restructuring process will be carried out in stages.
The first round of redundancies is to take place in Scotland where 190 jobs will go within the next three months. More than half of the total workforce will be made redundant in 2015, while 100 staff will go in 2016. 940 shipbuilding jobs will be lost during next year in Portsmouth, most of them in the second half of 2014.
BAE and trade unions have held a consultation on ways to transfer staff from the yard into maritime services. According to trade unions, redundancy notices were given to the workforce on Wednesday and the search for volunteers would begin next week. It is expected that a significant number of the redundancies will be made by voluntary departures.
BAE Systems is a British multinational corporation. The group employs over 88,000 staff globally, of which 34,800 in the UK. In 2012, BAE Systems had announced the creation of 280 jobs in the UK, after it had revealed plans of a large-scale downsizing of its workforce in 2011.
Eurofound (2013), BAE Systems, Internal restructuring in United Kingdom, factsheet number 76195, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/76195.
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