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.
Mobile-phone firm O2 Ireland is seeking 100 redundancies from its staff in Dublin in a development that follows moves by its biggest rival Vodafone to let 80 staff go. Originally part of Denis O'Brien's Esat business, O2 Ireland was acquired in January 2006 by the Spanish group, Telefonica. The company currently employs 1,800 people in Ireland.
O2 declined to comment on its plans, which follow the conclusion of an annual review of the Irish operation. Long dominant in the Irish market, O2 and Vodafone have been under increased competitive pressure in a saturated market as the third-largest player, Meteor, strengthens. Now controlled by Eircom, Meteor took the bulk of the growth in the Irish market last year. Following the addition of more than 250,000 customers, its subscriber base now exceeds 800,000. Both O2 and Vodafone have seen their monthly average revenue per user decline, with that of O2 falling to 45 Euro in the third quarter last year, from 46 Euro in the previous period and 47 Euro in the same period in 2005. O2 is striving to expand its business by reaching an agreement with supermarket group Tesco to introduce a mobile virtual network operator service from next summer, the first such initiative in the Irish market.
Eurofound (2007), O2, Internal restructuring in Ireland, factsheet number 65103, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65103.
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