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.
Pfizer, the world's largest drugs firm and the maker of Viagra, is to cut its UK workforce by almost 1,000 jobs. The company is to cut 400 jobs at a manufacturing site in Kent and has put a further 571 positions in doubt by putting another plant in Morpeth in Northumberland up for sale. The plant in Sandwich, Kent, goes back to the second world war when it was the site of the first mass production of antibiotics. Pfizer said the jobs were going because of an "exhaustive" review of its manufacturing sites following its $60 billion (£32 billion) acquisition of rival Pharmacia in 2003. It has already cut thousands of jobs around the world, including in the UK, following the merger.
The firm employs more than 6,000 people in the UK, nearly half of whom are in research. The government is trying to encourage science-based industries in the UK but the activities of extreme animal rights activists has led to some firms threatening to move out of this country.
Eurofound (2005), Pfizer, Internal restructuring in United Kingdom, factsheet number 61059, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61059.
This working paper offers a comprehensive methodological overview of the European Restructuring Monitor (ERM) databases. Even though the methodology has not changed over time, new categories have been added, and the way it has been used by researchers and policymakers...
This Eurofound research paper explores key trends in restructuring in recent years, highlighting the companies that announced the largest job losses and job gains in the EU. It builds on an analysis of company announcements recorded in Eurofound’s European Restructuring...
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Since 2013, Eurofound's ERM database on restructuring-related legislation has been documenting regulatory developments in the Member States of the European Union and Norway which are explicitly or implicitly linked to anticipating and managing change. The most recent update to the...
