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.
On 16 June 2005, the American company Hewlett Packard opened an international business centre in Bucharest (Bucharest region), in which it plans to invest €10 million by 2008. Some 100 employees work in the new location, providing services such as contract administration, financial control of projects, call-centre-type technical assistance for company departments and partners across Europe, the Middle-East and Africa. ‘Romania was not exactly the cheapest location for this particular kind of centre but we do not focus on costs only’, declared the managers of the company. The main reasons for choosing Romania were the geographical and cultural proximity of Romania to the Western Europe, the high educational level of the people and the current fiscal system.’ The company has simultaneously initiated a search for other locations in Romania to extend its business. ‘From experience, I would say that the number of employees triples year after year so the current location for 150 employees will fill up pretty quickly’, declared the company representative. Hewlett Packard estimates a two-digits growth of its turnover in Romania in 2005.
Eurofound (2005), Hewlett-Packard, Business expansion in Romania, factsheet number 61847, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/61847.
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