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.
Filtronic, an electronics firm based in Newton Aycliffe in County Durham, has said that it is to cut 115 jobs. The firm currently employs 319 people and has said that the move follows the loss of its main buyer for mobile phone semiconductors. In a statement the company said it regretted losing 115 workers and added it may be forced to sell the plant. A company spokesman said: 'Our predominant customer has now advised us that its requirement for switches from Filtronic will cease in September because of their decision to in-source all production.' 'This will result in a substantial reduction in the level of activity for our business.' The board has decided to reduce the size of the compound semiconductor business accordingly. Consultations will start with affected staff over proposed job losses involving approximately 115 people. The board is considering a full range of possibilities for the ongoing operation, including sale.
Eurofound (2007), Filtronic, Internal restructuring in United Kingdom, factsheet number 65550, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/65550.
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