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.
UK retailer Marks & Spencer has announced plans to reduce the workforce from three head office locations in central London by 525 jobs. Of the 525 job losses, around 260 are permanent roles and the balance are contractors. Before this announcement, the company had seven head office locations where 3,500 people were employed.
In addition, the number of permanent IT and logistics roles based in central London head offices will be reduced by 400. IT and logistics functions will instead take place in the company offices located in Hertfordshire and Middlesex.
Since taking over as the new chief executive in April 2016, Steve Rowe has embarked on a program of simplifying the retailer’s structure. To date, this has included restructuring the senior management team and reducing the size of the operating committee. In total, the company employs more than 71,000 people across the United Kingdom.
Eurofound (2016), Marks & Spencer, Internal restructuring in United Kingdom, factsheet number 88464, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/88464.
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