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.
Aker Solutions, the engineering company which provides support to the oil industry, has announced plans to cut 280 jobs from its UK workforce. From a headcount of 2,500 this represents around 11% of the total workforce. The company confirmed that it has entered the formal consultation period on these job losses, which are understood to affect the subsea workforce. Job losses will come from the London and Aberdeen offices, though the losses at each site are not being reported. The job losses at Aker Solutions follow numerous other job losses in the oil and gas sector, which have resulted from the fall in the wholesale price of oil. The timeframe for the job losses has not been confirmed.
Eurofound (2016), Aker Solutions, Internal restructuring in United Kingdom, factsheet number 87368, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/87368.