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.
McBride, a Manchester-based UK manufacturing of household and personal care products, has announced an internal restructure of the business that will result in a cut of around 400 jobs. The announcement follows a strategic review of operations in a bid to improve profitability. The reduction of 400 jobs will represent one-quarter of the entire workforce, which is currently comprised out of 1,600 workers. The company is head-quartered in Greater Manchester, which has a workforce of 800. In terms of manufacturing, the main factory is located in Middleton. Other UK-based factores are located in Hull, Barrow and Bradford.
The company has begun consultation with its employees, having indicated that none of the four UK sites would shut down completely. However, the factories located in Hull and Barrow were expected to suffer the largest brunt of the job losses. The group also employs around 5,000 workers at 17 factories across Europe, China and Vietnam, but the company has said that they have no plans to transfer any jobs offshore.
According to the sources, the Big Four supermarket chains of Tesco, Sainsbury's, Asda and Morrisons have been engaged in battles to attempt to gain market share. This UK supermarket price war has been linked to problems with the McBride's declining sales performance, as companies in the supply chain of the major supermarkets are caught up in the grocery price war.
ERM reported on a previous restructuring event in 2011.
Eurofound (2014), McBride, Internal restructuring in United Kingdom, factsheet number 77281, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77281.
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