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.
Philips Semiconductors is one of the world's top semiconductor suppliers. On its unit of Nijmegen 90 job losses were announced on 4 December 2002 (50 natural termination of contract, for the other 40, Philips was trying to find an outplacement solution) after the 200 announced in 2002.
In September 2003, 140 more job cuts were announced.
In March 2004. Philips reduces its workforce by 350 units in the sector of semiconductors on the site of Nijmegen. The trade unions complain about the fact that Philips relocates more and more in low wage countries. Philips management argues that its competitors are following the same path and that the company is undergoing an important transformation focussing less on production and more on knowledge.
Eurofound (2003), Philips Semiconductors, Internal restructuring in Netherlands, factsheet number 59642, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/59642.
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