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.
Nuclear power company Magnox Ltd will cut up to 1,600 jobs as a result of decommissioning twelve of its nuclear power plants in the United Kingdom.
The sites are located in England, Wales and Scotland. Eleven of the sites have already ceased to generate power while the twelfth site – located in Wylfa in North Wales – is scheduled to stop power generation by September 2016 at the latest. Magnox has reported that the job losses will affect permanent staff, contractors as well as workers employed via temporary employment agencies. Formal consultation has commenced however it has been reported that the trade union Unite has requested an urgent meeting with the company in order to try to avoid compulsory redundancies. Operating under contract for the Nuclear Decommissioning Agency, Magnox is a government agency that was formed in 2011 to operate and decommission old nuclear power plants in the United Kingdom. While decommissioning has been gradually taking place over the past ten years the company has reported that the timeline for closure of sites has been brought forward due the introduction of streamlined processes.
Eurofound (2015), Magnox Ltd, Closure in United Kingdom, factsheet number 83596, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/83596.