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.
TCL Multimedia Technology Holdings Limited and Thomson formed a joint venture called TTE in November 2003, which included TCL's businesses in China and emerging markets as well as Thomson's units in Europe and North America.
The company announced on 27 October 2006 that the factory TCL Multimedia Technology Holdings Limited in Angers, employing 610 people, is to cut between 250 and 253 jobs in December 2006 and that, additionally, 110 employees will be pre-retired. The reasons for this decision are that TTE Corp. is going through an internal restructuring process and that the affected factory is not profitable enough.
The trade unions disputed this decision of the group which may affect other European factories in the next weeks. In this sense, TCL Multimedia Technology Holdings Limited, the biggest TV maker in the world, announced it would restructure its loss-making European business, cutting jobs and selling off some assets. The company announced it could stop all sales and marketing activities in Europe other than its OEM (original equipment manufacturing) business.
Eurofound (2006), TCL Multimedia Technology Holdings Limited, Internal restructuring in France, factsheet number 64325, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64325.
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