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.
French energy company Engie is thought to be preparing job cuts in several countries it currently operates. In the UK, its power station in Rugeley has closed after using all of its coal reserves, which will result in 150 job losses by the end of the year. In Australia, Engie-owned Hazlewood mine in Victoria is to close at an unspecified point over the next few years, as part of the state governments move towards renewable energy generation and production. Indeed, a move towards renewable and non-fossil fuels appears to be central to Engie's strategy, as they have recently acquired an 80% stake in California based battery development company Green Change Networks. The move is in very preliminary stages, but this acquisition and restructuring of business priorities is the likely reason for job changes.
UPDATE 04/08/2016:In early August it was announced that Engie has acquired a contract with Wakefield Council, with the work of 800 staff to be transferred over, which may cause further job changes in the coming weeks and months.
Eurofound (2016), Engie, Internal restructuring in World, factsheet number 88008, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88008.
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