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.
Construction company Shepherd, which has its headquarters in York, has announced plans to cut 180 jobs. It is being reported that most of these cuts are expected to come from back-office roles.
Staff have been informed and a 45 day consultation period has begun. The move comes after the company revealed that it had made a loss of 8.2 million GBP over the last year and the turnover had decreased by a third to 240 million GBP. In contrast the company's Shepherd Engineering Services made a 5.3 million GBP profit. A spokesperson has confirmed that the job losses are necessary to secure the long-term future of the business and that the company will seek to keep redundancies to a minimum. The spokesperson also commented that the welfare of staff would be a key concern throughout the process.
Update 20/05/2015: Shepherd Construction has completed its restructuring process with 55 jobs lost. Of those 55 jobs, 37 were made via compulsory redundancy and a further 18 occurred as a result of voluntary redundancy. When the company commenced formal consultation, it was reported that 180 jobs would be lost.
Eurofound (2015), Shepherd Construction, Internal restructuring in United Kingdom, factsheet number 79368, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/79368.
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