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.
The Canadian-based aircraft maker Bombardier Aerospace has announced plans to cut 1,800 jobs from its global aerospace workforce and undertake restructuring of its business structure. The new company structure is expected to be in place from January 1st 2015. The ERM reported that 390 of the foreseen job losses will take place at the company’s production site in Belfast, Northern Ireland (UK), which prior to these cuts employed around 6,000 staff.
Bombardier employed 76,400 people at the end of 2013, 37,400 of which in its aerospace division. The decision to restructure came as a consequence of long-running issues and delays in the development of its new jet series. The announced job cuts are in addition to staff reductions already announced in January 2014, when Bombardier said it would cut 1,700 aerospace jobs.
Eurofound (2014), Bombardier Aerospace, Internal restructuring in World, factsheet number 77653, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77653.
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