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 17 January 2007 chip manufacturer NXP (Next Experience) announced its plans to cut 420 jobs in the Netherlands. 350 jobs will be lost in Nijmegen and 70 in Eindhoven. NXP is helping affected staff find other jobs but the company does not rule out the possibility of forced redundancies. NXP has 37,000 employees worldwide, of which 5,600 are working in the Netherlands (4,300 in Nijmegen and 1,300 in Eindhoven).
The job cuts did not totally come by surprise. Until recently NXP was part of the Philips group and was called Philips Semiconductors. Last summer Philips sold the semiconductor division to a group of investors led by Kohlberg Kravis Roberts (KKR). Before this takeover Philips had already announced its plans to cut down costs.
According to NXP the goal of the restructuring process is to improve its competitiveness. In Nijmegen the production process will be made more efficient and a small loss-making division will be closed. In Eindhoven mainly supporting jobs will be cut. According to the board chairman, Frans van Houten, these measures will enable NXP to focus on activities in which the company is already strong.
Trade union FNV and the NXP works council have drafted a plan to improve results without incurring in job losses. The board however does not want to discuss this plan.
Eurofound (2007), NXP, Internal restructuring in Netherlands, factsheet number 64858, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/64858.
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