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.
About 360 British jobs are to be axed at Syngenta, a Swiss agrochemical firm. About 300 posts will be lost through the planned closure of its Central Toxicology Laboratory (CTL) near Macclesfield, Cheshire, whilst some jobs are also being cut at its international research centre in Jealott's Hill, Bracknell, though others will be created at this site. A spokesman for the firm said the net loss of UK jobs would be 360 overall. The company is holding discussions with employee groups about the job cuts and some people will be offered early retirement or a move to other posts, the spokesman also said.
The cuts in the UK are part of a wider global job reduction strategy by the firm. Another 50 jobs will be lost in Basle, 40 in the United States and 30 at other locations. Of the cuts, Syngenta Head of research and development, David Lawrence, said:
'Syngenta invests more than $800m (£425m) annually in research and development for agriculture and is strongly committed to innovation.'
'These proposed changes will increase our flexibility and cost competitiveness as we address the opportunities and challenges of a fast-changing global crop protection market.'
The company said it hoped to save an annual $40m (£21m) with the changes.
Eurofound (2006), Syngenta, Internal restructuring in United Kingdom, factsheet number 64090, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64090.
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