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.
Wood Group, a company which provides support for the oil industry, has confirmed that it is to cut 1,000 jobs in the UK. The company has also confirmed that jobs have been cut in the USA and in the Middle East.
The job cuts are a consequence of the falling price of oil and come during a period of uncertainty for the industry. The company which is based in Aberdeen, confirmed that the total company revenue for the first half of 2015 was down by 20%.
Eurofound (2015), Wood Group, Internal restructuring in United Kingdom, factsheet number 84520, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/84520.