Andy Hall wrote:

This is irrelevant. The full set of information required to know what
has happened and to form an opinion has not been published.

I cannot agree, Peter's main points are correct, weak management
produces union problems. In this case, the company has run at a loss for
3 years apparently. In the Weinstock days of GEC, and again in US
managed ITT, 3 weeks was the maximum period that a loss was allowed in a
mature business, followed by replacing the manager in week 4!

I've seen the staff reduced by 50% in one afternoon to correct the
situation. In another international company, I've seen the "close"
decision taken and executed in a couple of days.

Regards
Capitol