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.
Retailer Wilko has announced plans to cut 3,900 jobs from its stores across the UK. The major restructure will also see 1,000 new positions created. Wilko is intending to make changes to the occupational profile within the company by stripping out one of the supervisory layers in the business in a bid to reduce costs. A spokesperson for the retailer commented that the changes to the market place had been outside its control, attributing the need to restructure to both the fall in the value of Sterling following the EU referendum vote and the Government's decision to introduce a higher-than-expected national living wage. The consultation will last until October 2017 with more details about the cuts expected to emerge following the completion of the process.
UPDATE 27/10/2017: Following the process of consultation, Wilko has announced that it has accepted 1,030 applications for redundancy. The retailer confirmed that 2,600 staff have been redeployed or promoted. Nineteen further redundancies have been made where it was not possible to redeploy staff. Wilko now intends to recruit for 224 new supervisory positions.
Eurofound (2017), Wilko, Internal restructuring in United Kingdom, factsheet number 91906, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/91906.
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