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.
Engineering group Rolls-Royce has announced in November 2014 plans to cut 2,600 jobs from its global workforce over the next 18 months. The majority of the job losses will be concentrated in the company’s Aerospace division. Although it is not yet known where all the foreseen job cuts will take place, it is foreseen that at least part of these will take place in various company’s production plants in the UK and Germany. Rolls-Royce said the job losses would cost £120m over the next two years, but would lead to annual cost savings of £80m once implemented. The company said voluntary redundancy would be offered wherever possible. In 2014, Rolls Royce had a global workforce of 55,000, 24,000 of which based in the UK.
The ERM previously reported about restructuring at Rolls Royce in Germany and in the UK.
Eurofound (2014), Rolls Royce, Internal restructuring in World, factsheet number 77930, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/77930.
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